Purchasing & Accounts Payable Glossary
There are currently 2 Glossaries in this directory beginning with the letter C.
Centralized Procurement
Centralized procurement is the process of centrally managing the purchasing for distributed locations. In a centralized procurement model, there is one procurement team for all locations.
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Cost Savings
Cost savings refers to the amount a company saves due to higher efficiency or better purchasing costs. The finance team always measures cost savings as a reduction in the set budget. If the cost reduction doesn’t impact the budget, it can’t be considered cost savings.
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