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What is a Purchase Requisition? Definition and Process

ivalua

When does a purchase actually begin? A critical but often overlooked step in managing spend, enforcing policy, and gaining visibility across the procurement process, creating a purchase requisition is the first step in the process. Find Out More What Is a Purchase Requisition?

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Procurement vs Purchasing: Key Differences, Workflows, and Enterprise Risks

ivalua

Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. Procurement vs. Purchasing: What’s the Difference? What is Purchasing?

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What is Purchase Price Variance (PPV) and How to Calculate it?

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Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.

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Purchasing process - A step-by-step overview

TYA Suite

From raw materials for manufacturing to office supplies or software subscriptions, these purchases keep the business moving. But purchasing is more than just placing orders, it's a structured process that ensures the right items are bought, from the right sources, at the right price, and at the right time.

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Reducing Global Lead Times To Improve Customer Experience At Becton Dickinson

Product lead time is crucial in the life sciences industry and represents a key consideration for customers’ purchasing decisions. For this reason, BD Biosciences aimed to optimize its global supply and distribution network to reduce delivery lead time to customers and optimize its global inventory.

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Purchase Control Is A Nightmare To Solve – Here’s Why

Procurement Express

Purchase control is one of those things that feels small until its not. Purchasing is about getting the right stuff at the right time from the right suppliers for a fair price without blowing up your budget or your supplier relationships. How much time is your team wasting on the purchase order process? Maximize cost savings.

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What Is E-Procurement? Understanding Modern Digital Procurement Systems

ivalua

Unlike basic online purchasing tools, a sophisticated e-procurement system provides an integrated solution that connects all procurement functions. If you’re beginning to explore e-procurement, you’ve probably been grappling with manual approvals that delay purchases and limited visibility into spend.

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Conquering Tail Spend in 2025: New AI-Powered Tools and Strategies for Success

It’s time to shift from fragmented, ad hoc purchasing to a strategic, technology-driven approach. Tail spend — often unmanaged, fragmented and costly — can account for as much as 80% of total transaction volume. Without the right strategy, enterprises face hidden risks and unnecessary spend.

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5 Essential Pieces of a Prospecting Solution

Steps your buying committee must go through when purchasing a prospecting solution. Using ZoomInfo’s exclusive research, third-party studies, and analyst briefs, this eBook aims to help B2B sales leaders better understand: Different ways prospecting solutions maximize sales productivity and effectiveness.

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Making the Case for Investment in Your Company's Sustainable Purchasing Program

Whether you are just launching a sustainable purchasing program or looking to expand and strengthen your current efforts, you’ll need the support of multiple diverse stakeholders.

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10 Ways to Leverage Buyer Signals and Drive Revenue

Instead, sales teams must be proactive, identifying and acting on nuanced buyer behaviors — often before prospects are fully ready to make a purchase. In today’s ultra-competitive markets, it’s no longer enough to wait for buyers to show obvious signs of interest.