Stay Ahead with the Power of Upskilling - Invest in Yourself! 
Important definitions and terminologies used in Purchase Management
A
Acceptance sampling in Purchase Management
Acknowledgment of receipt in Purchase Management
Administrator in Purchase Management
Approval process in Purchase Management
arbitration in Purchase Management
Authorized signatory in Purchase Management
Automatic Warehousing in Purchase Management
award in Purchase Management
B
Backorder in Purchase Management
best and final offer in Purchase Management
Bid in Purchase Management
Bid award in Purchase Management
Bid evaluation in Purchase Management
bid security (bid bond) in Purchase Management
bidder, proposer, offeror in Purchase Management
bill of lading in Purchase Management
Bill of materials (BOM) in Purchase Management
bill of quantities in Purchase Management
blanket purchase order in Purchase Management
Budget in Purchase Management
buyer in Purchase Management
C
Carrier in Purchase Management
catalogue in Purchase Management
Centralized purchasing in Purchase Management
Change order in Purchase Management
collaborative procurement, common procurement in Purchase Management
Competitive bidding in Purchase Management
Compliance in Purchase Management
Confidentiality in Purchase Management
Conflict of interest in Purchase Management
consignment in Purchase Management
Consultant in Purchase Management
Containerizations in Purchase Management
Contract in Purchase Management
contract administration in Purchase Management
contract management in Purchase Management
contract modification in Purchase Management
Contract negotiated bid in Purchase Management
Contractor in Purchase Management
Contractual Responsibilities in Purchase Management
Cost Analysis in Purchase Management
cost estimate in Purchase Management
D
Damage in Purchase Management
Decentralized purchasing in Purchase Management
default in Purchase Management
Deliverable in Purchase Management
Delivery in Purchase Management
Delivery Schedules in Purchase Management
delivery time in Purchase Management
Deterministic Inventory Management Model in Purchase Management
Digital procurement in Purchase Management
Discounts in Purchase Management
disposal in Purchase Management
Double Sampling in Purchase Management
Dropshipping in Purchase Management
Due diligence in Purchase Management
E
Economic order quantity (EOQ) in Purchase Management
E-procurement in Purchase Management
eProcurement system in Purchase Management
ERP software in Purchase Management
Exception Handling in Purchase Management
exigency in Purchase Management
Expediting in Purchase Management
expression of interest in Purchase Management
F
fixed price in Purchase Management
Force Majeure in Purchase Management
Freight in Purchase Management
Freight forwarder in Purchase Management
G
general conditions of contract in Purchase Management
global compact in Purchase Management
Global sourcing in Purchase Management
Goods in Purchase Management
Goods receipt in Purchase Management
Green Credentials in Purchase Management
guarantee in Purchase Management
H
Harmonized System (HS) code in Purchase Management
I
Inbound logistics in Purchase Management
Incoterms in Purchase Management
Indent in Purchase Management
Integrated Material Management in Purchase Management
intellectual property in Purchase Management
Inventory in Purchase Management
Inventory Control in Purchase Management
Inventory Costs in Purchase Management
Inventory Management in Purchase Management
Inventory Performance Measurement (Ratio Analysis) in Purchase Management
Invitation for bid (IfB) in Purchase Management
invitation to bid in Purchase Management
Invitation to bid (ItB) in Purchase Management
Invoice in Purchase Management
J
JIT Purchasing in Purchase Management
Joint procurement in Purchase Management
Just-in-case inventory in Purchase Management
Just-in-time (JIT) in Purchase Management
K
Key performance indicator (KPI) in Purchase Management
Key performance indicators (KPIs) in Purchase Management
Key supplier in Purchase Management
L
Lead time in Purchase Management
Learn more about RFI vs RFP vs RFQ. in Purchase Management
Letter of credit in Purchase Management
letter of intent in Purchase Management
liability in Purchase Management
life cycle cost, whole life cost, total cost of ownership in Purchase Management
Limits of Liability in Purchase Management
liquidated damages in Purchase Management
Logistics in Purchase Management
long term agreement in Purchase Management
M
Make or buy decision in Purchase Management
Market analysis in Purchase Management
Market research in Purchase Management
Material Classification in Purchase Management
Material Codification in Purchase Management
Material Handling in Purchase Management
Material requirements planning (MRP) in Purchase Management
Material Standardization in Purchase Management
Materials Accounting in Purchase Management
Materials Budgeting in Purchase Management
Materials Management in Purchase Management
Materials Planning in Purchase Management
maverick buying in Purchase Management
memorandum of understanding in Purchase Management
MRP (Material Requirements Planning) in Purchase Management
Multiple award contract in Purchase Management
Multiple Sampling in Purchase Management
N
Need in Purchase Management
Negotiation in Purchase Management
Negotiation Skills in Purchase Management
negotiation Tactics in Purchase Management
net present value in Purchase Management
Non-conforming product in Purchase Management
Non-disclosure agreement (NDA) in Purchase Management
O
OC and AOQ Curve in Purchase Management
offer, tender, submission in Purchase Management
Open purchase order in Purchase Management
Open-end contract in Purchase Management
option in Purchase Management
Order in Purchase Management
Order to cash (O2C) in Purchase Management
Outbound logistics in Purchase Management
outsourcing in Purchase Management
P
Packing list in Purchase Management
Payment Terms in Purchase Management
performance security (performance bond) in Purchase Management
Pilferage in Purchase Management
Prices in Purchase Management
Probabilistic Inventory Management Model in Purchase Management
Procure to pay (P2P) in Purchase Management
Procurement in Purchase Management
Procurement automation in Purchase Management
Procurement cycle in Purchase Management
procurement review committee, review committees on contracts, or committee on contracts in Purchase Management
Procurement transformation in Purchase Management
proposal in Purchase Management
Purchase Management System in Purchase Management
purchase order in Purchase Management
Purchase order (PO) in Purchase Management
Purchase request in Purchase Management
Purchase Review in Purchase Management
Purchaser Responsibilities in Purchase Management
Purchasing in Purchase Management
purchasing card in Purchase Management
Purchasing Performance in Purchase Management
Q
Quality assurance in Purchase Management
Quality Control in Purchase Management
Quality Expectations in Purchase Management
Quotation in Purchase Management
R
receipt of goods, goods receipt note in Purchase Management
Receiving inspection in Purchase Management
remedy in Purchase Management
request for expression of interest in Purchase Management
request for information in Purchase Management
Request for Information (RfI) in Purchase Management
request for proposal in Purchase Management
Request for proposal (RFP) in Purchase Management
request for quotation in Purchase Management
Request for Quotation (RfQ) in Purchase Management
Request to pay (R2P) in Purchase Management
Requisition in Purchase Management
requisitioner in Purchase Management
residual value in Purchase Management
S
Sales order in Purchase Management
Sealed bid in Purchase Management
sealed offer in Purchase Management
security instruments in Purchase Management
segregation of duties in Purchase Management
services in Purchase Management
Shipping terms in Purchase Management
single source in Purchase Management
Social Audit in Purchase Management
sole source in Purchase Management
Solicitation in Purchase Management
solicitation documents in Purchase Management
Source document in Purchase Management
Source to pay (S2P) in Purchase Management
sourcing in Purchase Management
Sourcing strategy in Purchase Management
Special Purchase Contracts in Purchase Management
Specification in Purchase Management
standardization in Purchase Management
Statement of work in Purchase Management
stewardship in Purchase Management
Stock Accounting in Purchase Management
Stock Keeping in Purchase Management
Store Physical Verification in Purchase Management
Stores Layout in Purchase Management
Stores Management in Purchase Management
Strategic sourcing in Purchase Management
subcontractor in Purchase Management
Supplier in Purchase Management
Supplier Responsibilities in Purchase Management
Supplier vetting in Purchase Management
supplier, vendor in Purchase Management
Supply chain management in Purchase Management
sustainable procurement in Purchase Management
T
tender in Purchase Management
tender committee in Purchase Management
Terms and conditions in Purchase Management
terms of reference in Purchase Management
The Indian Contract Act, 1872 in Purchase Management
The Sales of Goods Act, 1930 in Purchase Management
Third-party logistics (3PL) in Purchase Management
Total cost of ownership (TCO) in Purchase Management
transparency in Purchase Management
U
Unilateral contract in Purchase Management
Urgency level in Purchase Management
User requirements in Purchase Management
V
Value Analysis in Purchase Management
Value Analysis System in Purchase Management
Vendor in Purchase Management
Vendor Management in Purchase Management
Vendor-managed inventory (VMI) in Purchase Management
W
Warehouse in Purchase Management
Warehouse Layout in Purchase Management
Warehouse Management System (WMS) in Purchase Management
Warehousing in Purchase Management
Warranty in Purchase Management
Warranty claim in Purchase Management
Waste Management in Purchase Management
Works in Purchase Management
X
XML ((e)Xtensible Markup Language) in Purchase Management
XML namespace in Purchase Management
XML schema in Purchase Management
Y
Yellow Pages in Purchase Management
Yield in Purchase Management
Yield rate in Purchase Management
Z
Zero inventory in Purchase Management
Zero tolerance policy in Purchase Management
Zero-based budgeting in Purchase Management
