Q: Is a Procurement the process of finding? ¶
A: Yes, and agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process.
Q: Was a Procurement in its infancy? ¶
A: Yes, and it was referred to as a “commercial” operation.
Q: Is a Procurement viewed as more tactical in nature and sourcing and acquisition are viewed as more strategic and encompassing? ¶
Q: Is a Procurement one component of the broader concept of sourcing and acquisition? ¶
Q: Is a Procurement fundamentally concerned with the spending or disbursal of money? ¶
A: Yes, and Finance, by its very nature, performs a cost-cutting role.