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This paper deals with the collaborative procurement process in a two-echelon supply chain that a manufacturing company and a contractor are connected through the information system. The real time information about inventory and production processing becomes available through this information system. We raise two issues related to the collaborative procurement process. First, we propose a VMI(Vendor-Managed Inventory) type of the procurement policy which focuses on the cost minimization for the total supply chain rather than individual companies. Second, based on the simulation study, we demonstrate that a collaborative procurement process is more cost-effective over classical procurement processes such as (Q,r). The result obtained in this paper can be applied to the quantitative evaluation of the cost saving effect when companies build the information sharing based, collaborative procurement system