1.Purchasing or purchases 2.Requisition 3.Purchase requisition 4.”Invoice” 5.Physical inventory, 6·Perpetual inventory 7.Practical inventory 8.House Brand 9.Call Brand 10.Purchase specifications
Expert Answer
1. Purchasing is the supply chain function of procuring material including raw material, components, parts, consumable, supplies and services used in production or non production processes.
2. Requisition is the indent released by the materials department or user function for procurement of items.
3. Purchase requisition is the detailed statement of items required.
4. Invoice is the bill generated by the supplier the for the items supplied. It carries detailed breakup of item description, quantity, unit price, applicable taxes and payment
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