Relationship between procurement and supply chain.

Q: Establish the relationship between procurement and supply chain.

Particular	Procurement	Supply Chain
Definition	Procurement is the process of acquiring goods and services the company needs to carry out its basic requirements.	Supply chain is the process of transforming those goods into products and distributing them to customers as efficiently as possible.
Objectives	Procurement finding ways to save money and improve value	Supply change finds ways to reduce friction and distribution costs.
Interdependence	Procurement is the initial step in the supply chain, acquiring goods and services.	Supply chain management relies on procurement to source and secure the required resources.
Cost Management:	Effective procurement practices can help reduce the costs of goods and services.	supply chain can reduce production and operational costs, boosting competitiveness.
Risk Management:	In procurement evaluating and minimizing potential risks is necessary.	Collaborative risk management can help identify and address supply chain disruptions
Customer Satisfaction	Procurement secures the right inputs at the right cost and quality.	The supply chain efficiently delivers products or services to customers.