Sourcing and Procurement
Glossary
Your trusted guide to exploring sourcing and procurement terms & definitions,
from the world’s leading procurement experts and companies
Business User
The individual who actually undertakes work in the business area to be supported by the automated processes.
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Business-As-Usual
The normal execution of standard functional operations within an organization.
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Buyer’s view
The buyer’s perspective on a supply market and the suppliers and products in it
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Buying Green (Sustainability)
The purchasing of sustainably preferable products and services, i.e. products made from recycled or remanufactured materials. A comprehensive set of green purchasing guidelines might be a focus in certain products or commodities.
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Business cycle
The rise and fall over time of output in an economy as measured by gross domestic product (GDP)
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Business-to-customer (B2C)
A transaction between a business and the end user of its product or service (e.g., an individual shopper)
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Buyer Initiated Payments (BIP)
Automate push payments to suppliers to help you improve control over the payment process.
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Buying
Buying, which is commonly referred to as purchasing, is the process of ordering and receiving goods and services. It describes how they will be ordered, which includes request, approval, payment and purchase order record, or P.O., and the receipt of goods. Buying is a subset of procurement, meaning it is a process within procurement.
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