Procurement Glossary

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Category

A set of several items (e.g., ingredients)

Purchasing Center

An organization that centralizes purchasing for other companies. By leveraging economies of scale, a purchasing group can obtain better commercial terms and pass on the benefits to its member customers.

Convenience

Term corresponding to a product and mainly used in the field of mass distribution (examples: butter, chocolate, sugar, plastic, etc.).

Contract

Document drawn up between a buyer and a supplier specifying the terms and conditions of purchase: - Supplier details - Product and its specifications (specifications) - Volume - Price (with or without cost model, indexed or not) - Period of validity

Cover

In English, hedging means budgeting what you need to produce your products.

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