INTRODUCTION
Procurement management or planning is an integral part of overall project management. It entails a detailed plan around methods to procure raw materials and goods necessary for the entire manufacturing process and strategies to maintain good supplier relationships for the continuous supply of goods at nominal prices. Bid management involves management around two key concepts—knowledge flow and people. It revolves around the management of the bidding process and often involves the use of bid management tools to automate the process and make it smarter and more defined.