This chapter delves into the strategic aspects of procurement in construction projects, focusing on the alignment of organizational goals of profit maximization with cost optimization while executing construction projects. Most construction projects involve a multifaceted series of activities, requiring a wide variety of specialized materials and services in large volumes. Managing this complexity can be a challenging and daunting task even for experienced professionals. Post introduction, the chapter is divided into four sections. The first section defines strategic procurement and presents the purchase strategy as a critical aspect of overall corporate strategy for gaining necessary competitive advantage. The second section outlines the management of various stages of the procurement cycle ranging from needs assessments to supplier selection and evaluation and contract management. It examines the process of identifying, sourcing, and procuring materials and service providers that meet project specifications, quality standards, and budgetary constraints. The third section presents technology as a critical enabler for streamlining procurement processes and improving their strategic reach and impact on the enterprise. The fourth section enumerates the entwined relationship between corporate social responsibility and ethical sourcing as procurement of construction materials and services needs to be consistent with the principles of sustainable development while promoting good governance. Finally, the chapter concludes with the call for procurement professionals in the construction industry, to follow a standardized approach to best execute and manage construction projects, resulting in manifold benefits and rewards for owners and contractors.