Purchasing

Glossary of Terminology

Glossary of Terminology

Posted by Lee Du Bray, Purchasing

Most people involved in Purchasing are used to words that are not common in everyday conversation such as “Absorption Costing”. However, sometimes the true meaning of a word is not what you have been taught and you should consider that...

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Definition of Purchasing

Definition of Purchasing

Posted by Lee Du Bray, Purchasing

To procure externally those goods and services not available internally at the lowest possible price taking into account quality and service as well as form, fit and function. To perform this function many companies employ the services of Purchasing personnel,...

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Backorder… What does it really mean?

Backorder… What does it really mean?

Posted by Lee Du Bray, Purchasing

If you are party to a Supply Agreement or Contract you may feel you have adequate protection against stock outages through various clauses in the agreement. In reality though all too often you will experience those frustrating stock problems that...

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Institute of Purchasing

Institute of Purchasing

Posted by Lee Du Bray, Purchasing

CIPS Australia (CIPSA) is the not-for-profit peak body for procurement professionals and is wholly owned by The Chartered Institute of Purchasing & Supply, an international organisation based in the UK, with 42,000 members in 120 countries. CIPSA is mandated to...

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