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Strategic sourcing is a term directly involved in procurement process it helps to improve and re-evalute the activities of purchasing of a company.
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Purchasing activities include researching the best sellers and negotiating on the price. With the Internet, purchasing is much easier than in the past.
Purchasing, Handling, Selling, Returning of Goods Purchased, Returning of goods sold, Maintaining Adequate Stocks.
transaction
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Involved in quinary activities
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A business is an individual or group involved in professional, commercial, or industrial activities. Can be for profit of non-profit. Some kind of transaction must take place for the entity to do business with others.
It is involved in charities and schools.
A transaction processing system is a system that divides work into individual transactions. Types of processing include batch processing, time sharing, real time processing, and transaction processing.