Procurement vs Purchasing
Procurement is usually the broader process; purchasing is the transaction-focused act of ordering and administering a purchase.
Open →Learning section
Procurement Fundamentals
Requirements, approvals, purchasing, receiving and payment.
The Procure-to-Pay Lifecycle
Follow a requirement from recognized need through approval, sourcing, ordering, receipt, invoice matching and payment.
Open →Requisition vs Purchase Order
A requisition is typically an internal request to buy; a purchase order is typically an authorized supplier-facing document.
Open →How to Define a Purchase Requirement
Clear requirements produce more comparable supplier responses and fewer disputes.
Open →Goods vs Services Procurement
Goods and services often need different pricing, acceptance and change-control methods.
Open →Requester, Buyer, Approver and Receiver Roles
Clear roles help prevent accidental commitments, self-approval and disputes about delivery.
Open →Procurement Records and Audit Trails
A useful procurement file explains the requirement, approval, supplier selection, order changes and payment basis.
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