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Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process while on the other Hand Purchasing is the Process of how goods and services are ordered through selection and buying.
Procurement involves selecting vendors, negotiating payment terms and pricing while purchasing only involves the process of ordering/buying the goods.
Procurement is the process that takes into account factors such as the cost over the life of the goods or services rendered and the quality necessary to meet users' requirement while purchasing refers to the specific activity of committing expenditure and which tends to focus on issues of price rather than of value
Procurement is the process of tendering or competitive bidding process while on the other Hand Purchasing is the Process of how goods and services are ordered through selection and buying.
Procurement means its action for obtaining or procuring something.
Purchasing means selecting and buying something
Procurement deals with the sourcing activities, negotiation and strategic selection of goods and services that are usually of importance to an organization. Purchasing is the process of how goods and services are ordered, and also apart from Procurement process
Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process.
Purchasing refers to a business or organization attempting to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasingprocess, processes can vary greatly between organizations.
The purchasing is an acquisition activity, whilst procurement addresses the functions from identifying the need through to the management of the end result.
