Flashcards
PURCHASING
Cards in this deck (6)
- 1PURCHASINGThe process of how good and services are ordered.
- 2ProcurementProcess of selecting vendors,
negotiating,
establishing payment term
strategic vetting
negotiating contracts
strategic selection of goods and services. - 3PROCUREMENT PROCESSNeed recognition
specify need
source/examine suppliers
price & terms
Purchase order
Delivery
expediting
receipt & inspection
invoice approval and payment
record keeping - 4Purchasing processIdentify need
Identify user requirement
evaluating a need
identify suppliers
ensure payment occurs promptly
ascertaing that the need was met
driving continuos improvment - 5Purchase requisitionWhen internal customers identify their need for a product & service and communicate to the purchasing department when and what is need.
- 6PURCHASE ORDERformal contract to purchase good and services.
Information
- Description
- Business/Economics Flashcards on PURCHASING, created by stef ross on 18/02/2018.
- Created by
- stef ross · Feb 2018
- Updated
- Feb 18, 2018
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