Procurement - EBS (MOSC)

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What is the difference between Sourcing and Procurement?

edited Apr 12, 2010 1:57AM in Procurement - EBS (MOSC) 1 commentAnswered
Hi All,

What is the Difference between Sourcing and Procurement?

This question is in my Mind (may be some others might be there in the forum) and want to post on this forum.

As per my understanding

- Sourcing is basically identifying the parts which needs to be procured and finding approriate (best in terms of the parameters an organization sets) vendors for the same.

- Procurement means purchasing of parts from known vendors or established vendors. Procurement applies to purchase done more than once... regularly..

I request views on this to correct my understanding.

How does this applies to oracle?

Regards

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