difference between purchase and procurement

Difference between Procurement and Purchasing | Procurement vs Purchasing Both procurement and purchasing are business terms that are quite similar and many people and organizations use these terms interchangeably. However, there is a distinct difference between Procurement and Purchasing. Purchase is more or less a term for transaction activities whereas Procurement is a term for rational activities or strategic activities which includes transactional activities also. In other words, Purchase is a subset of procurement.  Let's have a detail look at both business terms and explain explain ...