What is External Procurement?
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What is External Procurement?
Answer
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When the procurement of products or services is done from external vendors, it is known as an external procurement. It has three primary forms, such as:
One time orders: This term is used for those goods that are needed irregularly.
Longer-term contracts: This term is used for those materials that are ordered regularly in large quantities.
Longer-term scheduling agreements: This term is used for that material, which is ordered regularly and also in large quantities.
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