In this video, I have discussed ” The difference between Procurement and purchasing”.
Procurement and purchasing are the two terms that are often used interchangeably. But here we are going to discuss the dissimilarities between procurement and purchasing.
Topics I have covered are,
1. Procurement vs Purchasing
2. What is Procurement?
3. What is purchasing?
4. Difference between Procurement and purchasing.

Why This Matters:
Understanding the distinction between procurement and purchasing is essential for business students, supply chain professionals, and anyone involved in organizational management. Procurement is a strategic, long-term process that includes sourcing, negotiation, and supplier relationship management, while purchasing focuses on the transactional aspects of acquiring goods and services.

Key Takeaways:
Procurement = Strategic process (planning, sourcing, contracting)
Purchasing = Tactical execution (ordering, payment, delivery)
Both are crucial for effective supply chain management.

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Reference/ Source:
1. Procurement vs Purchasing: What’s the Difference? –
2. Procurement vs. purchasing—know the differences –
3. Procurement vs. Purchasing: What’s the Difference? –