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  2. Transactional function of buying goods and services

    Purchasing is the transactional function of buying goods and services. It involves activities such as placing orders, receiving goods, and processing payments. Purchasing is focused on the short-term goals of acquiring the needed inputs at the best possible price and terms.
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  4. What is Procurement? | IBM

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  7. What Is Procurement? Types, Processes

    WEBApr 4, 2024 · Procurement encompasses a range of activities involved in obtaining goods or services. What is the purpose of procurement? In general, procurement teams work to obtain competitively priced supplies …

  8. What is procurement? | Definition, Process & Technology | SAP

  9. pur·chase
    verb
    1. acquire (something) by paying for it; buy:
      "Mr. Gill spotted the manuscript at a local auction and purchased it for $1,500"
      Opposite:
    More about purchase
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