{"id":63694,"date":"2021-09-16T13:55:01","date_gmt":"2021-09-16T11:55:01","guid":{"rendered":"https:\/\/global-exam.com\/blog\/?p=63694"},"modified":"2021-10-20T15:24:36","modified_gmt":"2021-10-20T13:24:36","slug":"english-vocabulary-purchase-vocabulary-glossary-of-common-words-and-phrases","status":"publish","type":"post","link":"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-purchase-vocabulary-glossary-of-common-words-and-phrases\/","title":{"rendered":"Purchase Vocabulary: Glossary Of Common Words And Phrases"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1456px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-1\"><p><a id=\"post-63694-_7q6ksh5bgxr2\"><\/a> It seems easy to talk about <strong>purchasing<\/strong>. However, this activity also has its specific <strong>vocabulary<\/strong>. We\u2019ll see about this topic in this section.<\/p>\n<p>You\u2019ll find in this sheet vocabulary on purchasing and definitions.<\/p>\n<p>Ready? Go!<\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1456px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div style=\"text-align:center;\"><style type=\"text\/css\">.fusion-button.button-1 {border-radius:25px;}.fusion-button.button-1 .fusion-button-text {text-transform:none;}<\/style><a class=\"fusion-button button-flat button-large button-default button-1 fusion-button-span-no fusion-button-default-type\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/auth.global-exam.com\/register\"><span class=\"fusion-button-text\">Test My Level For Free<\/span><\/a><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-1{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-2{ padding-top : 0px;margin-top : 30px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 30px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1456px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-2\"><p>Whether you wish to take the<a href=\"https:\/\/global-exam.com\/en\/exam\/ielts\">\u00a0IELTS<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/toeic\">TOEIC<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/toefl-ibt\">TOEFL<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/c1-advanced\">CAE<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/cambridge-fce\">FCE<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/toeic-bridge\">BRIDGE<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/bulats\">BULATS (Linguaskill)<\/a> or even the <a href=\"https:\/\/global-exam.com\/en\/exam\/bright-english\">BRIGHT ENGLISH,<\/a>\u00a0you need to enhance your\u00a0<a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-list-all-the-essential-words-you-need-to-know\/\">English vocabulary<\/a> in order to prepare for your test. Vocabulary is also essential if you wish to <a href=\"https:\/\/global-exam.com\/en\/general\/english\">learn English on your own<\/a>! We have have made a long list of vocabulary worksheets:<\/p>\n<ul>\n<li class=\"entry-title fusion-responsive-typography-calculated\" data-fontsize=\"45\" data-lineheight=\"56.25px\"><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-anthropology-vocabulary-definition-of-words-and-concepts\/\">Anthropology Vocabulary<\/a><\/li>\n<li class=\"entry-title fusion-responsive-typography-calculated\" data-fontsize=\"45\" data-lineheight=\"56.25px\"><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-chemistry-vocabulary-essential-list-of-words-and-phrases\/\">Chemistry Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-stock-market-vocabulary-top-100-words-you-need-to-know\/\">Stock Market Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-real-estate-vocabulary-glossary-for-accomodation-terms\/\">Real Estate Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-product-vocabulary-useful-terms-to-learn-for-a-company\/\">Product Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-research-vocabulary-list-of-words-terms-and-concepts\/\">Research Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-phone-vocabulary-common-words-and-phrases-to-use-daily\/\">Phone Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-payment-vocabulary-learn-the-related-terms-and-methods\/\">Payment Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-office-supplies-vocabulary-list-of-stationery-items-to-know\/\">Office Supplies Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-management-vocabulary-top-words-to-improve-your-skills\/\">Management Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-law-vocabulary-the-a-to-z-guide-to-legal-terms-worksheet\/\">Law Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-human-resources-vocabulary-learn-basic-phrases-and-terms\/\">Human Resources Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-factory-vocabulary-top-words-for-industrial-production\/\">The Factory Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-list-bank-and-finance-useful-terms-to-learn\/\">Vocabulary List: Bank and Finance<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-computer-vocabulary-lists-of-basics-words-you-should-know\/\">Computer Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-marketing-vocabulary-list-of-essential-words-and-terms\/\">Marketing Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-social-media-vocabulary-list-of-definitions-to-know\/\">Social Media Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-meteorology-vocabulary-list-of-words-related-to-climate\/\">Meteorology Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-culture-vocabulary-list-most-common-words-and-phrases\/\">Culture Vocabulary List<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-architecture-vocabulary-list-top-100-common-words-used\/\">Architecture Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-sociology-vocabulary-top-100-glossary-of-terms-to-know\/\">Sociology Vocabulary<\/a><\/li>\n<\/ul>\n<h2><a id=\"post-63694-_h1u9aikm2u1p\"><\/a>Vocabulary List of Words From A to Z Related to Purchasing<a id=\"post-63694-_h4vxtvfjpczp\"><\/a><\/h2>\n<h3><span style=\"text-decoration: underline;\">ABC<\/span>:<\/h3>\n<p>It\u2019s a method borrowed from the Pareto principle, products and services are sorted into three groups in order of decreasing use, storage volume, purchase amounts or other criteria.<\/p>\n<h3><span style=\"text-decoration: underline;\">Adde<\/span><span style=\"text-decoration: underline;\">d <\/span><span style=\"text-decoration: underline;\">value:<\/span><\/h3>\n<p>The additional value given by the company to goods and services from third parties through its labour activity.<\/p>\n<h3><span style=\"text-decoration: underline;\">Advanced Order Management (AOM):<\/span><\/h3>\n<p>A digital order life cycle management. It tracks all information and processes, including order entry, inventory management, delivery and aftermarket service. It gives the company and the buyer transparency.<\/p>\n<p><img class=\"aligncenter wp-image-65455\" src=\"https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547.jpg\" alt=\"big delivery ship\" width=\"700\" height=\"231\" srcset=\"https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-200x66.jpg 200w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-300x99.jpg 300w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-400x132.jpg 400w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-600x198.jpg 600w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-768x253.jpg 768w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-800x264.jpg 800w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-1024x338.jpg 1024w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547-1200x396.jpg 1200w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/purchase-vocabulary-words-e1633357208547.jpg 1280w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Benchmark:<\/span><\/h3>\n<p>It\u2019s the study of the competitive market which involves analysing the good practices among the competitors and drawing inspiration from them.<\/p>\n<h3><span style=\"text-decoration: underline;\">Bidding on Line (BOL):<\/span><\/h3>\n<p>It\u2019s a specific sale taking place on the Internet. In any way, the sites could be held responsible for any wrongdoing.<\/p>\n<h3><span style=\"text-decoration: underline;\">Bill Of Material (BOM):<\/span><\/h3>\n<p>It\u2019s a list of workpieces to be processed, for example to be shipped, received, stored, packaged etc.<\/p>\n<h3><span style=\"text-decoration: underline;\">Bullish:<\/span><\/h3>\n<p>It\u2019s when the increase in income is higher than the increase in prices, then the purchasing power increases.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Call for tenders (CFT):<\/span><\/h3>\n<p>It\u2019s the procedure by which the purchaser selects the most cost-effective offer, with no need for negotiation, and based on objective criteria published beforehand to the buyers.<\/p>\n<h3><span style=\"text-decoration: underline;\">Capex buyer:<\/span><\/h3>\n<p>It\u2019s the person in charge of Capital Expenses, that is to say, the investment purchases.<\/p>\n<h3><span style=\"text-decoration: underline;\">Central purchasing office:<\/span><\/h3>\n<p>It\u2019s a structure that handles the purchases of its adherents, which may be retailers or wholesalers, it corresponds to the intermediate category of the wholesale trade.<\/p>\n<h3><span style=\"text-decoration: underline;\">Commitment document (CD):<\/span><\/h3>\n<p>It\u2019s a written document in which the future buyer sets out the conditions of his or her purchase. It shows a willingness of the future purchaser to be engaged.<\/p>\n<h3><span style=\"text-decoration: underline;\">Customer Relationship Management (CRM):<\/span><\/h3>\n<p>It\u2019s a strategy for managing relationships with current and potential customers, it\u2019s based on data collection and analysis.<a id=\"post-63694-_51ahqomfnow1\"><\/a><\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Delayed Payment Outstanding (DPO):<\/span><\/h3>\n<p>A payment of services made in an excessively long time, not in conformity with the terms of the contact. Sometimes the payment does not work. This can be a serious handicap for a company.<\/p>\n<h3><span style=\"text-decoration: underline;\">Delivery In Full On Time (DIFOT):<\/span><\/h3>\n<p>It\u2019s a measurement of a supply chain\u2019s performance. It\u2019s the analysis of the number of orders delivered on time to the purchaser, with the right quantity and correct products.<\/p>\n<h3><span style=\"text-decoration: underline;\">Documentary Credit:<\/span><\/h3>\n<p>It\u2019s a document that commits a buyer\u2019s bank to pay the seller by a certain date, a method that can incur some risks.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Economic Order Quantity (EOQ):<\/span><\/h3>\n<p><strong>\u200b\u200b\u200b<\/strong>This is the ideal quantity of goods that a company should buy to reduce stock costs, shortage costs and ordering costs. The formula assumes that all demand, ordering costs and holding costs remain constant.<\/p>\n<h3><span style=\"text-decoration: underline;\">European Article Number (EAN)\u200b\u200b\u200b:<\/span><\/h3>\n<p>It identifies items or logistic units in a single way. It\u2019s coded in the form of barcodes and can be read by a specific scanner, known as a barcode reader.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">\u200bFactory buyer:<\/span><\/h3>\n<p>It\u2019s a person who selects and negotiates materials or supplies required for the company\u2019s manufacturing process, in line with volume, cost and quality objectives.<\/p>\n<h3><span style=\"text-decoration: underline;\">Family buyer:<\/span><\/h3>\n<p>An understanding of the influence of the family on consumer behaviour by studying buying roles, family dynamics and the purchasing life cycle of a family member<\/p>\n<h3><span style=\"text-decoration: underline;\">Finished Goods Inventory (FGI)\u200b\u200b\u200b:<\/span><\/h3>\n<p>It\u2019s the third group of a manufacturer\u2019s inventory consisting of products in the sales cycle. These products are finalised, they have gone through the entire manufacturing process and are ready for the consumers to purchase.<\/p>\n<h3><span style=\"text-decoration: underline;\">\u200bFirst Expired First Out (FEFO):<\/span><\/h3>\n<p>Principle that goods with the shortest expiring date must be sold first.<\/p>\n<h3><span style=\"text-decoration: underline;\">Functional specifications (FSC):<\/span><\/h3>\n<p>It\u2019s a document of several pages that describes the process of the good\u2019s distribution. It may involve the choice of platforms, the environment or the appropriate tools to be used, as well as the necessary technology enabling the distribution to work successfully.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">General Purchasing Conditions (GPC)<\/span><\/h3>\n<p>They are standard documents adopted by decree which define the administrative implementing procedures for a category of public contracts. Be it works, supplies and services, intellectual products, I.T., project management etc.<\/p>\n<h3><span style=\"text-decoration: underline;\">General Sales Conditions (GSC)<\/span><\/h3>\n<p>They\u2019re the general terms and conditions of sales. They provide a summary of information by a supplier to its customer (whether a professional or a private individual), on the legal conditions under which its goods are sold or its services provided. They must be in written form.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Indirect buyer:<\/span><\/h3>\n<p>It manages the company\u2019s operational purchases such as products, supplies, consumables, services. Indirect purchases have often been less processed than the so-called &lsquo;production&rsquo; purchases.<\/p>\n<h3><span style=\"text-decoration: underline;\">Insourcing:<\/span><\/h3>\n<p>It\u2019s the decision of a company to stop the contract for a business process and its starting in-house. It\u2019s the opposite of outsourcing. It&rsquo;s widely used in production to reduce tax, labour and transport costs.<\/p>\n<h3><span style=\"text-decoration: underline;\">International buyer:<\/span><\/h3>\n<p>He or she prospects from country to country, looking for the best suppliers for his or her company. His or her purpose is to identify the best quality\/price ratio products from all over the world.<\/p>\n<h3><span style=\"text-decoration: underline;\">IT buyer:<\/span><\/h3>\n<p>It\u2019s a family buyer in charge of Information and Technology purchases. IT purchases may include the purchase of servers, computer hardware, telephony, IT development services.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Just in time:<\/span><\/h3>\n<p>It\u2019s a management method in which products are purchased in small quantities to reduce the cost of maintaining shop inventory and to provide delivery for immediate use.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Key Performance Indicator (KPI):<\/span><\/h3>\n<p>It\u2019s a measurement of a company\u2019s performance. This indicator is therefore quantifying and making it possible to determine the impact of an action in achieving objectives, for instance to attract buyers.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Last In First Out (LIFO):<\/span><\/h3>\n<p>It\u2019s the principle that the last goods or items produced or purchased are removed from inventory first. They will either be fully used, sold or discarded.<\/p>\n<h3><span style=\"text-decoration: underline;\">\u200bLead Time\u200b\u200b\u200b:<\/span><\/h3>\n<p>It\u2019s the period of time to perform a service as set out in the contract. It\u2019s often different from the duration of the assignment.<\/p>\n<h3><span style=\"text-decoration: underline;\">Letter of consultation:<\/span><\/h3>\n<p>It\u2019s a letter inviting the selected candidates to submit a tender, and at the same time providing them with the relevant information.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Make or buy:<\/span><\/h3>\n<p>It\u2019s an Insourcing\/outsourcing study, comparing two solutions for sourcing a product. One consisting of producing it internally and the other of buying it from a supplier. Hence the term make or buy.<\/p>\n<h3><span style=\"text-decoration: underline;\">Make to Order (MTO):<\/span><\/h3>\n<p>It\u2019s an economic approach where production is only carried out when an order is confirmed. This approach is used for products that are very expensive to hold in stock or for low quantities to produce.<\/p>\n<h3><span style=\"text-decoration: underline;\">Mean Time Between Failures:<\/span><\/h3>\n<p>It\u2019s a measurement of random defects rate in a set of components, excluding systematic failures due to. For example, manufacturing defects \u2018teething problems\u2019 and wear-out due to ordinary use of the system.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Negotiation:<\/span><\/h3>\n<p>A successful negotiation is a well-planned negotiation. The four-step method of knowing, understanding, convincing, closing allows a buyer to anticipate difficulties and improve the buying process.<\/p>\n<h3><span style=\"text-decoration: underline;\">Non Quality Sheet (NQS):<\/span><\/h3>\n<p>It\u2019s a document usually issued after a review or an audit and specifying the details observed to identify quality defects.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Optimisation of purchasing:<\/span><\/h3>\n<p>Implementation of purchasing methods and tools to make the purchasing department as cost-effective as possible, and meet the challenges and targets set by the strategic purchasing plan.<\/p>\n<h3><span style=\"text-decoration: underline;\">Order Management System\u200b\u200b\u200b:<\/span><\/h3>\n<p>It\u2019s a digital management of an order\u2019s lifecycle. It gathers information and process systems, including order entry or inventory management. It provides insight to the business and the buyer.<\/p>\n<h3><span style=\"text-decoration: underline;\">Ordering:<\/span><\/h3>\n<p>It\u2019s to express an intention, either verbally or in writing, to buy a product.<\/p>\n<p><img class=\"aligncenter wp-image-65456\" src=\"https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767.jpg\" alt=\"girl receiving a delivery\" width=\"700\" height=\"243\" srcset=\"https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-200x69.jpg 200w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-300x104.jpg 300w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-400x139.jpg 400w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-600x208.jpg 600w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-768x266.jpg 768w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-800x278.jpg 800w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-1024x355.jpg 1024w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767-1200x416.jpg 1200w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/english-purchase-vocabulary-e1633357308767.jpg 1280w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Project buyer:<\/span><\/h3>\n<p>Someone who manages and coordinates purchasing for a product or a complete project. He or she collaborates with the business teams and is in line with the company\u2019s global strategy. He or she buys raw materials, processed products, services and manufacturing lines.<\/p>\n<h3><span style=\"text-decoration: underline;\">Purchasing:<\/span><\/h3>\n<p>Acquiring a good, an item in return for payment.<\/p>\n<h3><span style=\"text-decoration: underline;\">Purchasing Map:<\/span><\/h3>\n<p>It\u2019s a document that sets out the intended strategy for the purchase, before any significant purchasing activities such as posting a purchase plan or starting negotiations are undertaken.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Qualification:<\/span><\/h3>\n<p>It\u2019s a tool available to public purchasers as contracting entities. It allows shortlisting the companies likely to meet the requirements of a purchase project. It\u2019s a matter of purchasing efficiency.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Rationalisation of purchases:<\/span><\/h3>\n<p>It\u2019s the decision to apply best practice in purchasing and to reduce the costs of public ordering. It aims to assess and define needs more effectively and to pool purchases.<\/p>\n<h3><span style=\"text-decoration: underline;\">Restricted tender:<\/span><\/h3>\n<p>It\u2019s the process by which the purchaser chooses the most cost-effective offer, without negotiating, on the grounds of unbiased criteria made available to the candidates beforehand.<\/p>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Supplier repository:<\/span><\/h3>\n<p>It includes administrative and financial data, contacts, news, organisation of contracts, terms, benchmark products, prices negotiated, forecasted and realised turnover, contacts history, claims\u2026<\/p>\n<h2><a id=\"post-63694-_m0duly9vlfgc\"><\/a>Learn English Vocabulary Online Quickly With GlobalExam<\/h2>\n<p><a id=\"post-63694-_20tkrikm1bib\"><\/a> GlobalExam is an online platform for language learning. You have seen today a methodology to learn vocabulary in an advanced and comprehensive way.<\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-2{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-2 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-2{width:100% !important;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-2{width:100% !important;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-3{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":24,"featured_media":65454,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1736,2032,5579,2113,2148,2166,2198],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.2.1 - 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