Blockchain technology and smart contracts are set to revolutionize traditional procurement processes, enhancing efficiency, transparency, and trust. By recording every transaction on an immutable ledger, organizations gain unprecedented visibility into their supply chain. Smart contracts automate procurement processes, reducing errors and accelerating transactions. However, implementation faces challenges due to lack of standardization, unclear legal frameworks, and technical complexity. A phased approach, involving use case identification, proof-of-concept development, and solution scaling, is recommended for smooth transition.