Procurement Flashcard

Front

This is the process of acquiring goods and services for an organization.

Back

Purchasing

Front

The act of buying goods or services from a foreign country.

Back

Overseas purchasing

Front

This refers to purchasing goods or services from within the same country.

Back

Domestic purchasing

Front

The process of purchasing raw materials needed for production.

Back

Direct purchasing

Front

The purchase of goods or services that are not directly used in production, such as office supplies.

Back

Indirect purchasing

Front

This document is created to request approval for a purchase.

Back

Purchase requisition

Front

A company or individual who supplies goods or services to another business.

Back

Supplier

Front

The act of identifying and obtaining potential suppliers.

Back

Sourcing

Front

This document outlines the price and terms of sale for a product or service.

Back

Quotation

Front

The process of comparing prices from different suppliers to determine the best offer.

Back

Price comparison