procurement vs purchasing

Difference between Procurement and Purchasing

Difference between Procurement and Purchasing
Difference between Procurement and Purchasing Both procurement and purchasing are business terms that are quite similar and many people and organizations use these terms interchangeably. However, there is a distinct difference between Procurement and Purchasing. Purchase is more or less a term for transaction activities whereas Procurement is a term for rational activities or strategic activities which includes transactional activities also. In other words, Purchase is a subset of procurement.  Let's have a detail look at both business terms What is Purchasing? Purchasing is a term assoc...
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