The terms procurement and purchasing are used interchangeably.

Name: The terms procurement and purchasing are used interchangeably.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Procurement and purchasing are often used interchangeably in business, although procurement encompasses a broader range of processes including selecting vendors, strategic vetting, negotiation, and buying activities, while purchasing is specifically the transactional act of buying goods or services.

The Terms Procurement and Purchasing Are Used Interchangeably