Purchasing & Accounts Payable Glossary
There are currently 13 Glossaries in this directory beginning with the letter P.
Payment Terms
Having payment terms that work for your company and suppliers is essential to a successful procurement process. But how do you ensure that your payment terms are fair and effective? From setting goals with suppliers to using early payment options, there are many things to consider when setting procurement payment terms.
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Procure to Pay
Procure to pay is the end-to-end process a company follows to purchase, receive and pay the vendor for the products and services.
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Procurement Dashboard
A procurement dashboard offers several benefits for businesses. Firstly, it provides a clear and concise view of key procurement metrics, allowing businesses to quickly assess the performance of their procurement processes.
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Procurement Ethics
Procurement Ethics refers to the moral principles and standards that guide the behavior and decisions of those involved in the procurement process.
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Purchase Order Example
In this resource, let's dive deeper into how purchase order works, the correct formatting of purchase orders, and their benefits to your company. With this knowledge, we're confident you'll be on your way to easily mastering the art of ordering for your business!
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Purchase Order Number
A purchase order (PO) number is a unique identifier assigned to a purchase order document. This is used by businesses and vendors to track orders effectively. This ensures that all parties involved in a purchase are aware of the details of the transaction.
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Purchase Order Requisition
A purchase order requisition is a document an employee uses to request a purchase, product, or service.
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purchase order terms and conditions
Having purchase order terms and conditions can greatly impact the success rate of your transaction. Aside from that, it is legally binding as well. But, have you ever wondered what exactly purchase order terms and conditions are and why you should include them in your purchase order?
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Purchasing
Purchasing is the activity of procuring products or services by a buyer from a supplier. The simplest example of purchasing is the day-to-day purchasing done by a company. For example, you are purchasing a laptop from CDW or Amazon.com.
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Purchasing Automation
Understanding procurement and its related terms is essential for any business, regardless of its size. It can help in making informed decisions, reducing costs, improving efficiency, and ultimately, driving business growth.
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Purchasing Cycle
The purchasing cycle, also known as the procurement cycle, is a fundamental concept in the field of procurement and accounts payable.
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Purchasing Department
Your company’s purchasing department is one of the most important departments in your organization.It plays a vital role in ensuring the success of you and your finance team through sourcing and acquiring your required goods.
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Purchasing Manager
Purchasing managers in your company are responsible for finding and sourcing materials, supplies, equipment, and services at lowers costs without compromising quality or delivery times.
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