What’s the best way to describe procurement?
Give us you ideas here - I’ve been inspired by Cindy Rittel’s blog post to ask you https://www.procurious.com/procurement-news/explain-procurement-using-christmas-turkey
A really simple way to describe procurement is "The art of sourcing well." But it's hard to beat Cindy Rittel's Thanksgiving Turkey explanation! https://www.procurious.com/procurement-news/explain-procurement-using-christmas-turkey
On paper, "procurement" and "purchasing" are effectively synonymous. Look deeper, however, and there's a major distinction. Purchasing is what we all do when go to the grocery store - it doesn't get more complicated than comparing unit prices. "Procurement" suggests a more strategic, holistic way of understanding value. A good Procurement business unit does far more than secure a great price. They optimize supplier relationships and sourcing processes to ensure goods and services are attained at the best possible value.
In short, purchasing is a one-off while procurement is an ongoing, evolving process.