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What is the difference between sourcing & procurement?

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Question added by ROY THOMAS , Sourcing Specialist , Sadara Chemical Co.
Date Posted: 2015/10/18
Md. Kamrul Hasan Titu
by Md. Kamrul Hasan Titu , Executive, Inventory Control Management , Apollo Hospitals Dhaka

Procurement is the entire range and process of activities from sourcing, purchasing, negotiating and acquisition this can also included risk management, sustainability etc.

Sourcing is the component of the Procurement process that deals with supplier selection and management.

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