Differences between procurement and supply chain managementTo recap, procurement is the process of acquiring the supplies you need to run your business operations. On the other hand, supply chain management encompasses how those supplies are transformed into finished products and delivered to the end-users.
- Teacher: System Administrator
In the public sector, procurement is regulated by public procurement laws, which are designed to ensure that public funds are spent in a fair and equitable manner. In the private sector, procurement is largely unregulated, and organizations are free to pursue their own procurement strategies
- Teacher: System Administrator