Terms for P
A self-service, web based application that allows cardholders and their School/Center management to track and manage purchasing card activity.
Penn-specific supplier marketplace where all of the catalog items are stored. Allows you to search for items, compare items from different suppliers, and add items to your shopping cart. All catalog items will reflect University contract pricing.
Person who has been given authority to purchase goods and services on behalf of the University. The P.O. Manager has the authority to create and approve a requisition thus generating a Purchase Order which will be sent via Electronic Data Interchange (EDI), fax, or US mail to the supplier.
A portal usually refers to an online search engine or marketplace.
Status given to a requisition or purchase order that has been approved by a University delegate with an authorized dollar approval limit. If the document is forwarded from one approver to another for additional approval its status is considered pre-approved.
An exchange run by a single entity/company.
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Processing workflow for completion of a requisition used by the PO manager and the requisitioner only with Chart of Account knowledge that allows easy access to insertion of budget information. Also used by the requisitioner only with the ability to bypass budget account entry.
An industry consortium or third-party owned exchange that offers a many-to-many model.
Also known as a P-Card. A corporate credit card issued to an employee to purchase items directly from a supplier instead of creating a requisition or purchase order. (Refer to the Commodity Matrix http://www.purchasing.upenn.edu/buyinfo/matrix.php for guidelines for processing transactions.)
Notice Regarding Penn Purchasing Card - All purchasing activity with Penn Marketplace suppliers MUST be processed via the BEN Buys purchasing system. For more information consult the Purchasing Service web site at http://www.purchasing.upenn.edu/buytools/card.php.
Purchasing card administrator
The person responsible for reviewing and reconciling the weekly charge summary received from the card-issuing bank, and for preparing payment to that bank.
Purchase Order (P.O.)
Document sent electronically, via fax or US mail to the supplier to fulfill your requisition. Each Purchase Order is given a unique number and is an agreement from the University to the supplier that funds have been encumbered for the purpose of acquiring the specified goods and services from that supplier.