Procurement and buying are two terms that are often used interchangeably in the business world, but there are actually some important distinctions between them. Procurement is the more general term that refers to the overall process of obtaining goods and services, while a buyer is a specific role within that process. In a procurement context, the buyer is responsible for researching potential suppliers, negotiating prices and terms, and selecting the vendors that best meet the organization’s needs. The buyer is also responsible for managing the supplier relationship to ensure satisfaction and value for money.

In contrast, procurement encompasses a much broader scope than simply the buyer’s role. It covers the entire process of obtaining goods and services, including understanding the organization’s needs and requirements, researching potential suppliers, negotiating prices and terms, and managing the supplier relationship.