Purchasing
Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.
Read Full WikiDEFINITIONS
- verbTo buy, obtain by payment of a price in money or its equivalent.
- verbTo pursue and obtain; to acquire by seeking; to gain, obtain, or acquire.
- nounAn act or process of making a purchase.
- nounA complex, organized process in large organizations for obtaining goods that may include identification of requirements, approvals, supplier management, negotiation, receipt of goods, and payment.
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