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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

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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 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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