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Procurement Glossary

Discover procurement in minutes

Your quick guide to the most common terms in procurement. Perfect for when you need to look up that acronym (again).

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AP automation Hedge Bill of Materials (BOM) Accounts Payable (AP) Bid Due diligence Procure-to-Pay (P2P) software ERP software Reconciliation Expenditure Gross profit Scalability Invoice fraud Life Cycle Cost (LCC) Request for Proposal (RFP) Supplier portal Wholesaler Vendor compliance Purchase order Volume discount Maverick spend Tail spend Three-way match
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