purchasing
Sign in to saveAlso known as purchase, buy, buying
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.
Wikidata facts
- Subclass of
- procurement
Show 6 more facts
- different from
- shopping
- fabrication method
- marketing
- opposite of
- sales
- described by source
- Encyclopædia Britannica 11th edition
- facet of
- business administration
- P8168
- exploit
via Wikidata · CC0
~19 min read
Encyclopedic overview
11 sectionsContents
- Strategic purchasing
- Purchasing processes
- Acquisition process
- Selection of bidders
- Bidding process
- Technical evaluation
- Commercial evaluation
- Negotiating
- Post-award administration
- See also
- References
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.
Purchasing is part of the wider procurement process, which typically also includes expediting, supplier quality, transportation, and logistics.
Excerpted from Wikipedia’s “purchasing” article, available under the CC BY-SA 4.0 licence.