Purchasing glossary


Are you unfamiliar with all the terms, acronyms and expressions used in the world of purchasing?

Our Purchasing Glossary has been designed to simplify the sometimes complex terms used in the world of purchasing, making it easier to understand this technical language.

In this glossary you will find :

💡 Clear, precise definitions

💡 In-depth explanations for optimum understanding.

💡 Frequent updates to stay ahead of the curve.

Purchasing glossary

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Last price paid
Last price paid.

Lead Time 
Supplier delivery time (calculated from order date to delivery date).

Quantity smoothing 
Smooth out the quantities ordered from a supplier over a given period (example: order 1,200 tonnes over 1 year, 100 tonnes per month).
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