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What is the difference between Purchaseable and Purchased in PIM?

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What is the difference between Purchaseable and Purchased in PIM?

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We understand that both flags have to be set to Yes for an item to appear in SSP and procurment. However, what is the difference between 2 fields in PIM and Why does Oracle offer 2 fields for the same purpose? What would happen if I select Purchasable = N and Purchased = Y?

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