Register now or log in to join your professional community.
Procurement is the activity of buying stuff (order, receive and payment) which is a subset of Procurement which entails the more extensive process of vendor selection, negotiations, payment terms among others
Just same as the difference between Marketing and Sales
Marketing and Procurement is not to buy or sell from stock. It is about what to buy and what to sell and how.
Purchasing and Sales is buy or sell from stock.
As per meaning, there is no difference, the word procurement used in more strategic terms, and purchasing uses more in tactical terms, for e.g. generally we are not saying we are procuring a T.V but we say " Saudi Arabia is procuring strategic weapons from USA for strengthening their defense Power"
The difference between two are could be very wide depending upon product and or service,
Such as there is a little difference between procure and purchase as wording but there is no difference between procurement and purchasing in terms of acquire some thing against payments. Procurement means to get, obtain or find something as per needs and Purchasing means to get, obtain, procure something as per need but in terms of payment.
Procure:
For example i can say that he procure his wife to sign the mandate for the joint account. its mean acquire,get,find or obtain some thing as per needs.
Purchase: For example i can say that he is thinking to procure, Purchase or buy new furniture after 2 months.
Procurement Activities:
Its all about actions and occupation of acquiring goods or services in terms of Payments. Its depend upon products or services type where negotiation, technical approvals, inspection and testing approval and contracts terms and conditions involves to get this.
Purchasing Activities:
Same as Its all about actions and occupation of acquiring goods or services in terms of Payments. Its depend upon products or services type where negotiation, technical approvals, inspection and testing approval and contracts terms and conditions involves to get this.
Buying:
This is our daily practice to go on shop or restaurant to buy grocery or food. But keep in your mind. There is no negotiation is involved when we are buying something, Some time we are going in shop and trying to reduce the prices by conversation is called bargaining.
