Question: What is the key difference between purchasing and procurement?Purchasing is transactional, while procurement is strategic and focuses on building supplier relationshipsPurchasing focuses on price, whereas

What is the key difference between purchasing and procurement?Purchasing is transactional, while procurement is strategic and focuses on building supplier relationshipsPurchasing focuses on price, whereas procurement ignores cost considerationsProcurement only deals with finished goods, while purchasing deals with raw materialsThere is no difference; both terms mean the same

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