Question: Purchasing was traditionally viewed as a transactional function, with a lot of clerical work and many decisions rather simple because based almost entirely on price.

Purchasing was traditionally viewed as a transactional function, with a lot of clerical work and many decisions rather simple because based almost entirely on price. Now for many firms procurement has become strategic. Explain what procurement does that makes it a strategically important function and how those actions significantly impact the success of the firm.

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