To streamline the equipment procurement process for [CompanyName], assess the current procurement workflow, identify bottlenecks, and propose a more efficient strategy that reduces lead time and costs. Consider the roles of [ProcurementManager], [FinanceTeam], and [ITDepartment] in the process. Ensure the proposal includes metrics for tracking the time from request to purchase order, cost per unit of equipment, and vendor reliability based on historical data. Provide a clear timeline for the proposed changes, including necessary approvals from key stakeholders and a plan for implementing new procurement protocols by [ImplementationDate]. The output should be a report that highlights areas of inefficiency, suggests technological solutions (e.g., automation or AI tools for procurement tracking), and outlines expected improvements in cost savings and time reduction. Include a section for risk management, identifying potential challenges during implementation.