Deliverable Length: 1 500–1 800 wordsWeekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penaltyin accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight CentralTime.Draft a memo to a chief executive officer explaining the procurement contract process. Include the following elements:· Provide a general description of the procurement contract life cycle.· Explain why a company would want to use contracts.· Describe the benefits to a company that uses this process.· Provide an example of a company that successfully uses the procurement contract life cycle and how that company has benefited from it.
