Independent Purchasing in Procurement Definition
Independent purchasing in procurement is the process of acquiring goods or services without the involvement of a third party. This means that the buyer is solely responsible for finding and selecting suppliers, negotiating prices, and making purchase decisions.
Independent purchasing can be beneficial for buyers because it gives them more control over the procurement process and allows them to build closer relationships with suppliers. Additionally, independent purchasing can help buyers get better deals on pricing and terms. However, independent purchasing can also be risky because buyers are not protected by laws or regulations that govern third-party procurement.
