Purchasing

Purchasing refers to a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise. Though there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations. Typically the word “purchasing” is not used interchangeably with the word “procurement”, since procurement typically includes expediting, supplier quality, and transportation and logistics (T&L) in addition to purchasing.

Details

Purchasing managers/directors, and procurement managers/directors guide the organization’s acquisition procedures and standards. Most organizations use a three-way check as the foundation of their purchasing programs. This involves three departments in the organization completing separate parts of the acquisition process. The three departments do not all report to the same senior manager, to prevent unethical practices and lend credibility to the process. These departments can be purchasing, receiving and accounts payable; or engineering, purchasing and accounts payable; or a plant manager, purchasing and accounts payable. Combinations can vary significantly, but a purchasing department and accounts payable are usually two of the three departments involved.

Purchase (disambiguation)

Purchase may refer to:

Purchase (horse)

Purchase (foaled in 1916, died 1936), an American Thoroughbred racehorse, was called "The Adonis of the Turf." Walter Vosburgh, the official handicapper for The Jockey Club as well as a turf historian for many years (and for whom the Vosburgh Stakes were named), wrote: "…one of the most exquisitely beautiful of racehorses…to describe Purchase would be to exhaust the superlative."

Background

Purchase was the best son of Ormandale, the only foal in the 1903 crop of Ormonde. Racing, Ormonde went undefeated, an English Triple Crown winner, but as an imported sire he was almost infertile. As for his son, Ormandale (born in Menlo Park, California), he was not the runner his father was, but as a sire, he was much the better horse. Sent to Kentucky in 1912 at the death of his California breeder, he entered the second half of his stud career as an immediate success. The dam of Purchase was Cherryola whose racing career was more than respectable, winning 26 races between the years 1909 to 1913. (On April 15, 1923, along with forty other horses, she died in a barn fire at Harry F. Sinclair's Rancocas Stable, New Jersey.)