The word acquisition is sometimes used as a synonym for ‘purchasing’ in the context of the transactional processes associated with placing an order and arranging payment of the resulting invoice. Some commentators also use the term ‘acquisition’ as a generic term to subsume purchasing, sourcing, category management and procurement. When another company buys a company, ‘acquisition’ is frequently used to describe this process. See also Procurement.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
