Discuss any issues you experienced (delays, availability, etc.) or recommendations you may have with the component procurement process. Solution The component procurement process can be classified into five stages: Define Business Needs, Develop the Procurement Strategy, Supplier Selection and Evaluation, Negotiation and award, Induction and Integration Among the above stages defining business needs and supplier selection and evaluation stages generally take a delay as in business needs definition stage, the right factors for a component have to be framed while in the supplier selection stage, cost and quality come into picture.