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1. What is the difference between purchasing, selection and procurement? 2. Define B2B and B2C electronic transactions. 3. Define and briefly explain the main advantage

1. What is the difference between purchasing, selection and procurement? 2. Define B2B and B2C electronic transactions. 3. Define and briefly explain the main advantage of co-op buying? 4. Briefly explain why suppliers use specialized software for purchasing in the hospitality industry. 5. Name 5 technology products that have been developed to streamline the selection and procurement process

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