Procurement vs Purchasing: Difference between Procurement and purchasing

Ever wondered about the key distinctions between procurement and purchasing? 🤔 Join us on a deep dive into the world of procurement to uncover the crucial differences and understand why these terms are not interchangeable.
In this video, we'll break down the fundamental dissimilarities between procurement and purchasing, shedding light on their unique roles in the supply chain. From strategic decision-making to the tactical aspects of acquiring goods and services, we'll navigate through the complexities that set these two processes apart.
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