Question

Describe and discuss the differences and relationships between purchasing, procurement, and strategic sourcing. How have these concepts evolved? 

    Describe and discuss the differences and relationships between purchasing, procurement, and strategic sourcing. How have these concepts evolved?
Supply Chain Management: A Logistics Perspective
Supply Chain Management: A Logistics Perspective
John J. Coyle, Jr.… 10th Edition
Chapter 5, Problem 1 ↓

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Purchasing is the process of acquiring goods or services from an external source. Procurement is the broader process of acquiring goods, services, or works from an external source, including the strategic aspects of sourcing, negotiation, and contract management.  Show more…

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Describe and discuss the differences and relationships between purchasing, procurement, and strategic sourcing. How have these concepts evolved?
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