What does buying refer to in the procurement context?

In the procurement context, buying specifically refers to the physical act of placing orders to make a purchase. This involves the transactional aspect of procurement where an organization actively engages in obtaining goods or services from suppliers. This process typically encompasses activities such as selecting items, determining quantities, and issuing purchase orders to initiate the transfer of ownership from the supplier to the buyer.

While strategic planning, negotiations, and supplier evaluations are crucial components of the broader procurement process, they do not fall under the specific definition of buying. Buying is a more immediate and tangible action within the procurement cycle, focused on executing the transaction rather than the preparatory stages involving planning or qualifications. By emphasizing the execution of purchase orders, the definition captures the essence of what is commonly perceived as the buying function within procurement.