The official business definition of Centralized vs Decentralized Purchasing is an important distinction to make when considering how to best manage the purchasing of goods and services. Centralized purchasing is when a single, centralized department or individual is responsible for the purchasing of all goods and services for the entire organization. This approach is beneficial because it allows for better control over the purchasing process, as well as better negotiation of prices and terms. On the other hand, decentralized purchasing is when multiple departments or individuals are responsible for purchasing goods and services. This approach is beneficial because it allows for greater flexibility and autonomy in the purchasing process, as well as better access to a wider range of goods and services. Ultimately, the decision of which approach to take should be based on the specific needs of the organization. Both approaches have their advantages and disadvantages, and the best approach will depend on the particular circumstances of the organization.