Procurement is the strategic process of sourcing and acquiring all the goods, services, and raw materials a company needs to operate. It goes beyond a simple purchase to include activities like identifying needs, vetting suppliers, negotiating contracts and terms, and managing those relationships while overseeing delivery and payment. The goal of procurement is to obtain the best value, not necessarily the best price, which incorporates a balance of price, quality, and supplier efficiency around service and complete on-time deliveries. Syspro provides several tools to assist with managing the procurement process. Let's take a look at these tools. Within the manual forecasting view, we can see that Syspro can provide forecast drafts for those items that are needed. You will see that Syspro can take history of sales of an item, project out the forecast, and then through MRP display the needs of the components to fulfill these forecasts. In the end, creating the forecast for raw materials to plan from. This provides buying power when you're requesting quotes from suppliers. The approved manufacturing tables provide you visibility in relation to an item as to who the manufacturer is. The manufacturer part number, as it correlates to your internal part number. And the supplier. Linking all three together, so that when this item is purchased, we're ensuring that it is manufactured by the approved manufacturer and purchased by the approved supplier. Also, there is a request for quote functionality within Syspro where the user can submit a requisition for purchase. Once it's approved for request for quote, it can then be viewed in this review. Here the buyer will take into consideration all items or requisitions for items that have been approved for a request for quote. From within here, we will create that request. We will identify multiple suppliers that we'd like to go out for bid and we will accept those buyers. Then from in here, we're actually creating that request for quote and on that, the reference number will be defined. You can also add a reference description. And a closing date Now after the request for quote has been generated, we will go into that request for quote and view the details here. Here's the item that we're requesting the quote for. We can attach specifications, drawings, etc. to that request. Here's a list of suppliers that will be receiving that request. We can actually go out and we can attach it to the overall request. We will end the RFQ and here's where you define or confirm the list of suppliers that are going to be receiving that request. We will print that request. Once the request has been submitted, we end the RFQ.