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Today in the industrial world we often hear the term procurement Outsourcing and many of us do not even know what it means. In fact procurement outsourcing is the process of transfer of the identified vital activities related to procurements in the industry. Such transfer is generally made in favor of a third party. The aim is to cut down the overall cost of the procurement using the services of such third party and also to pin pointedly concentrate on the core values of competence.
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