What is NOT included in the five steps of the buy process?

The five steps of the buy process typically include distinct phases that guide organizations through the procurement cycle, from identifying needs to executing and managing the purchase. The first step involves establishing goals and objectives, which outlines what the organization aims to achieve through the buying process. Following that, buyers engage in execution, which includes negotiations and finalizing contracts to secure the necessary goods or services. Maintenance and stewardship activities occur after the purchase to ensure that the procured products or services are effectively utilized and managed throughout their lifecycle.

The step concerning "a separate review process for contracts" is where it diverges from the core five steps of the buy process. While contract review is essential, it is often considered a part of the overall contract management and execution phase rather than a standalone step in the traditional buying process outlined. Therefore, it does not fit within the conventional framework of the initial five steps, making it the correct choice for what is not included. Understanding this structure helps clarify how organizations can efficiently manage procurement and ensure that all essential elements are considered during the buying process.