The overarching function that describes the activities and processes to acquire goods and services. (Purchasing Insight 2012)
Purchasing Insight. 2012. "Definition of Procurement – Procurement vs Purchasing." (online). New York, NY, USA: Purchasing Insight, Purchase to Pay, Purchasing & Procurement Process, Electronic Invoicing. Available at: http://purchasinginsight.com/resources/what-is/definition-of-procurement-procurement-vs-purchasing/
"The terms “Purchasing” and “Procurement” are often used, incorrectly, interchangeably. Importantly, and distinct from “purchasing”, procurement involves the activities involved in establishing fundamental requirements, sourcing activities such as market research and vendor evaluation and negotiation of contracts. It can also include the purchasing activities required to order and receive goods."
Please provide your comments and feedback on the SEBoK below. You will need to log in to DISQUS using an existing account (e.g. Yahoo, Google, Facebook, Twitter, etc.) or create a DISQUS account. Simply type your comment in the text field below and DISQUS will guide you through the login or registration steps. Feedback will be archived and used for future updates to the SEBoK. If you provided a comment that is no longer listed, that comment has been adjudicated. You can view adjudication for comments submitted prior to SEBoK v. 1.0 at SEBoK Review and Adjudication. Later comments are addressed and changes are summarized in the Letter from the Editor and Acknowledgements and Release History.
If you would like to provide edits on this article, recommend new content, or make comments on the SEBoK as a whole, please see the SEBoK Sandbox.blog comments powered by Disqus