Procure to pay
Procure to Pay includes functions associated with
procurement of, and payment for, all materials
required by the Order Fulfillment process.
There is one major variant to this KBF: supplier
managed inventory (SMI) where the “Procure”
is a negotiated agreement to automatically supply
the company with specified products or
components under certain conditions and the
“Pay” is the automated payment associated with
the receipt of those materials.