Identify two stages of the process of procurement.

Procurement is the strategic process of sourcing and acquiring the goods and services a business needs to operate. It's more than just simple buying. The key stages are:\n1. **Identifying needs:** Determining what goods/services are required.\n2. **Sourcing suppliers:** Researching and finding potential suppliers.\n3. **Negotiation and selection:** Contacting suppliers, negotiating terms (price, quality, delivery), and choosing the best one.\n4. **Ordering:** Creating and sending a formal purchase order.\n5. **Receiving and inspection:** Accepting the delivery and checking it for quality and accuracy.\n6. **Payment:** Processing the invoice and paying the supplier.