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Procurement is to deals with the sourcing activities, negotiation and selection of goods base on any specific criteria and services that are usually of importance to an organization.
Purchasing is the process of how goods and services are ordered.
The term 'procurement' covers, for all areas of an institution's non-pay expenditure, the entire process of acquiring goods and services from third parties. It includes identification of requirements, specifications, assessment of risks, management of tendering processes, ordering, contract award and management and monitoring of suppliers' performance. The procurement process takes into account factors such as the cost over the life (whole life costs) of the good or service, and the quality necessary to meet users' requirements.
It is distinct from 'purchasing' goods and services, which refers to the specific activity of committing expenditure and which tends to focus on issues of price rather than of value.
purchasing
refers to the process involved in ordering goods such as request, approval, creation of a purchase order record (a Purchase Order or P.O.) and the receipt of goods.
Procurement
overarching function that describes the activities and processes to acquire goods and services
I think purchase is sub-function of procurement.
you can say procurement is forecasting of your needs (or raw materiel) for the future output/production/staff, while purchasing is just to purchase already procured goods.
Procurement covers a wider area starting from need assessment, checking specification to conform the requirement, bidding, evaluation, issuance of Purchase order, inspection, receipt, installation /commissioning and payment for the goods and services. The term Procurement is used for high value strategic and project procurement.
Normally, Purchasing refers to buying standard "on the shelf" available low value product ( e.g. stationery items of simple IT items).
In this context, the word "Supply" I would like to emphasize: Along with all stages of procurement, this will cover delivery from warehouse to site as the case may be, operator's training as required, maintenance or usage of the product and finally disposal of the procured equipment /product when it becomes obsolete or its economic life has expired.
