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I've never heard of approval process for data like suppliers, and if I consider the number of answers you received, i'm not alone in this case.
A solution could be to inform, with an daily alert, the procurment head about all the creation/modification in the supplier / supplier sites list.
iSupplier has this functionality - it is separate module but can be worked to fit requirements.
Alternatively you could custom code this (as I have done similar on a couple of occasions) using inactive_date on the Supplier to control whether or not it is active.