Purchasing (Action) Obtaining merchandise, capital equipment; raw materials, services, or maintenance, repair, and operating (MRO) supplies in exchange for money, or its equivalent. Purchasing (Function) key business function for acquiring materials, services, & equipment Contracting term often used for the acquisition of services Supply Management a newer term that encompasses all acquisition activities beyond the simple purchase transaction. "Identification, acquisition, access, posi...

Purchasing (Action) Obtaining merchandise, capital equipment; raw materials, services, or maintenance, repair, and operating (MRO) supplies in exchange for money, or its equivalent. Purchasing (Function) key business function for acquiring materials, services, & equipment Contracting term often used for the acquisition of services Supply Management a newer term that encompasses all acquisition activities beyond the simple purchase transaction. "Identification, acquisition, access, posi...