Which of the following is NOT a component of the procurement process?

The procurement process encompasses various components that are essential for the effective acquisition of goods and services. One key element of this process is information management, which involves gathering, analyzing, and utilizing data to make informed purchasing decisions. Category management, another crucial component, focuses on managing groups of similar products or services to optimize procurement efficiency. Contract management is equally important, as it entails overseeing agreements with suppliers to ensure compliance and performance.

Sales strategy development, however, is primarily concerned with how a business promotes and sells its products or services to customers, rather than acquiring inputs for production or operational needs. This makes it distinct from the procurement process, which is focused on sourcing and acquiring the necessary resources to support the organization's operations. Therefore, sales strategy development is not part of the procurement process, making it the correct answer to the question.