Purpose of this paper The purpose of the paper is to provide a conceptual foundation to enhance the body of knowledge related to procurement and sourcing through a framework consisting of five perspectives. The perspectives are: (1) Strategic, (2) Organizational, (3) Capability, (4) Supplier, and a (5) Customer Perspectives. The aim is to develop a holistic perspective of procurement by applying these five essential, but very different perspectives in order to achieve a holistic picture of the function. Design/methodology/approach The foundation is derived from various well-established theories within the five perspectives. Specifically, procurement was viewed from the perspective of organizational theory, network theory, resource/knowledge based views of the firm, transaction cost theory and various theories within the strategic field of research Findings By viewing procurement through the lens of five theoretical perspectives, this research provides multiple insights into many interrelated sourcing and procurement questions and specifically to the question of vertical and horizontal cohesion within the procurement function. Research limitations/implications This paper provides a framework for viewing the procurement function in a holistic perspective and thus presents a care for recognizing purchasing as more than an operational contributor to the company but as a platform for strategic change in supply chains. Practical implications A framework is presented showing the importance of five different perspectives on procurement. Although empirical support is warranted, the proposed concepts offer pragmatic advice to managers. What is original/value of paper While some of these theory bases have been utilized, to some degree, within the supply management research, this paper offers a more holistic perspectives of theoretical insights. In fact, our perception is eclectic as we try to unite different ideas and perspectives, even though they may seem irreconcilable.