Terms for R
A BEN Financials user that is assigned to reallocate cardholder transactions from the default account (see default account) to the correct funding source or charge account. Reallocation occurs on a weekly basis.
Electronic document created by the Requisition Creator for items received or services performed in a satisfactory manner.
Goods received as requested - Positive receipt of goods and services is required by the Requisition Creator for all purchase orders valued at $5,000 or greater. Positive receipt of goods and services is required regardless of the purchase value if "Receipt Required" is activated.
Damaged goods - The designated receiving agent (Requisition Creator) is responsible for notifying the supplier and the freight transport company immediately upon the discovery of damaged goods, and notifying the Accounts Payable department in any instance where goods or services are discovered to be in less than satisfactory condition or are not in accordance with the terms of the purchase order.
The quantity of items or services received in a satisfactory condition from a supplier. The supplier may ship the total quantity you requested in several shipments. In such cases, the receipt quantity will not equal the total quantity you requested until the final shipment is received and receipted.
Requisition Creator (also referred to as the "Requisitioner" or "Requestor")
A person (P.O. Manager or Requisitioner Only) who has been given authority by the University to submit electronic requests (Requisitions) for items or services from approved University suppliers.
An electronic request created by the system when a user saves the contents of a BEN Buys Shopping Cart which can hold items from the Penn Marketplace and/or non-catalog requests. The requisition is the document from which purchase orders are created. A single requisition may result in multiple purchase orders.
Also called an online auction, a reverse auction empowers the buyer and allows them to find the lowest bidder from among suppliers/sellers.
The supply chain that flows opposite to the traditional process of order acceptance and fulfillment. For example, reverse logistics includes the handling of customer returns, the disposal of excess inventory and the return journey of empty trucks and freight cars.
Reverse Supply Chain Management
The process of tracking items that are returned from customers and accounting for them in inventory; also includes resolving customer credit lines, automating return policies and curbing unauthorized returns.
Request for Information. When a buyer asks a seller to provide information about its business and capabilities.
Request for Proposal. A request sent by a buyer to one or more suppliers for contract pricing and/or services for a specified period of time.
Request for Quote. A request sent by a buyer to one or more sellers for the pricing and availability of a defined quantity of specific items.