Dictionary of Procurement Terms

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Search Results: 41-50 of 61 results for “O”
  • Order

    An instruction issued to a supplier for goods to be delivered or services to be provided to a given place at a given price.
  • Order Bill of Lading

    A negotiable bill of lading between carrier and consignor by which legal possession of the shipment may be ordered by endorsement from person to person; this enables a shipper to collect for a shipment before it reaches its destination. Is sometimes used by shippers to consign shipments to themselves so that delivery is made only upon the shipper’s order. See also: Bill of Lading.
  • Order Confirmation

    A document sent from the supplier to the buyer verifying details of the original purchase order. Also known as an order acknowledgement.
  • Order Level

    The level of stock of any item when an order is initiated for more of that item.
  • Order Picking

    The process of retrieving items from an inventory to fulfill customer orders.
  • Order Quantity

    The predetermined standard order size that is placed with the supplier to replenish inventory.
  • Order Record

    A central record of orders issued.
  • Ordering Cost

    The cost associated with issuing a purchase order or placing an order.
  • Ordinance

    A law passed by a local government. See also: Bylaw.
  • Organization

    A business or group of people that operate within an administrative and functional structure.
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