Scheduling agreement is an outline purchase agreement for specific material delivery. Essential for repetitive industries requiring just-in-time functionality. Contracts are release orders against scheduling agreements
Purchase Manager manages company's procurement strategy and supply chain. Field has evolved with technological advancements and globalisation. Focuses on sustainability, ethical sourcing, and risk management
Auction is a competitive sale where buyers place bids on assets or services. Auctions can be conducted in person or online. Bidders compete to win in open or sealed formats
Purchase order is a legally binding document detailing customer's goods/services purchase. Includes order date, description, quantity, payment terms, and contact information
Alibaba.com is a B2B platform connecting 150,000 suppliers to 10 million buyers. AliExpress is a B2C platform for direct consumer sales since 2010. Both platforms are part of Alibaba Group, founded by Jack Ma in 1999
Purchase requisition is an internal document for product and service requests. Item must be associated with procurement category and published catalogue. Approval workflow and user association to employee required. Requester permission (optional) needed for approval