procurement cycle

Definition

Series of steps that must take place to supply a production line or to replenish stock in a distribution center. Identifying the items that must be procured and determining the necessary quantities is the first step. This information is used to generate a requisition which is sent to the purchasing department. The assigned buyer requests bids and awards the purchase order to a vendor. When the ordered items arrive, they are entered into the inventory system. The parameters for a procurement cycle may be set by a known production schedule or vary based on consumer demand or other factors.

单词	procurement cycle
释义	procurement cycle Definition Series of steps that must take place to supply a production line or to replenish stock in a distribution center. Identifying the items that must be procured and determining the necessary quantities is the first step. This information is used to generate a requisition which is sent to the purchasing department. The assigned buyer requests bids and awards the purchase order to a vendor. When the ordered items arrive, they are entered into the inventory system. The parameters for a procurement cycle may be set by a known production schedule or vary based on consumer demand or other factors.
随便看	alphabetical order alphabet rounds alphanumeric alpha test Alt-A alteration alteration cost alteration of share capital alterations alter ego alternate alternate beneficiary alternate bid alternate director alternate dispute resolution (ADR) alternate hypothesis alternate settlement option alternate verdict alternative analysis alternative assessment alternative assets alternative contract alternative cost alternative delivery procedure alternative dispute resolution