Business Studies, asked by lohithagowda599, 7 hours ago

How is purchasing different from procurement

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Answered by Anonymous

Answer:

purchasing includes another major difference. Purchasing focuses on short-term goals such as fulfilling the five rights in a transaction (right quality, right quantity, right cost, right time, and right place), whereas procurement management focuses on strategic, long-term goals like gaining a competitive advantage or aligning itself with corporate strategy or goals.

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