What is Purchasing (PO)?

Purchasing (PO) refers to the process and technology involved in ordering goods or services from suppliers. It typically involves creating a purchase order (PO), which is a document specifying the items or services needed, quantities, agreed-upon prices, and delivery terms. PO systems help streamline the procurement process, track orders, manage supplier relationships, and control spending. They are commonly used by businesses of all sizes to ensure efficient and cost-effective procurement.