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Supply Management Handbook

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From benchmarking data to practical tools, study materials to discussion forums, find the information you need right here.

Glossary of Key Supply Management Terms TERM OF THE DAY:


A legally binding document prepared by a purchaser to describe the terms and conditions of a purchase. In the contracting process the purchase order may function as an offer, an acceptance, a confirmation of an oral agreement or a trigger for periodic performance (release) under an established contract.