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An example of a purchase order request from a travel agent. A purchase order, often abbreviated to PO, is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services required. [1] It is used to control the purchasing of products and services from external suppliers. [2]
In business or commerce, an order is a stated intention, either spoken or written, to engage in a commercial transaction for specific products or services. From a buyer's point of view it expresses the intention to buy and is called a purchase order.
A buy market-if-touched order is an order to buy at the best available price, if the market price goes down to the "if touched" level. As soon as this trigger price is touched the order becomes a market buy order. A sell market-if-touched order is an order to sell at the best available price, if the market price goes up to the "if touched ...
A blanket order, blanket purchase agreement or call-off order [1] is a purchase order which a customer places with its supplier to allow multiple delivery dates over a period of time, often negotiated to take advantage of predetermined pricing. It is normally used when there is a recurring need for expendable goods.
For example, suppose a broker receives a market order from a customer to buy a large block—say, 400,000 shares—of some stock, but before placing the order for the customer, the broker buys 20,000 shares of the same stock for their own account at $100 per share, then afterward places the customer's order for 400,000 shares, driving the price up to $102 per share and allowing the broker to ...
neo-classical economics' case, arguing that certain functions become separate, specialised units in order to obtain scale effects; neo-institutionalism - the argument that actors work together because it is the thing to do these days. Joint or collaborative procurement is a common practice within public sector procurement. There are central ...
A mail order catalogue is a publication containing a list of general merchandise from a company. Companies who publish and operate mail order catalogues are referred to as cataloguers within the industry. Cataloguers buy or manufacture goods then market those goods to prospects (prospective customers).
For example, if the company needs to buy US$30 million of widgets and the purchasing department secures the widgets for $25M USD, the purchasing department would have saved the company $5M USD. That savings could exceed the annual budget of the department, which in effect would pay the department's overhead - the employee's salaries, computers ...