Strategic Vs. Transactional Procurement :

Strategic and transactional procurement activities differ in that transactional procurement consists of routine actions such as material requirements planning, invoices and documentation. While these are important, they are minimal in comparison to the value that strategic procurement adds to a business’s processes. Strategic procurement focuses more on the analytical aspect of a business operation, which in the long run, adds more value. It’s essential for a business to analyze the material requirements, sources that were selected, the relations with vendors and the expenses.