Procurement Abbreviations: Basic Terms Every New Buyer Must Learn
When you start working as a buyer, one of the first challenges is not the sourcing strategy, the negotiation, or the supplier meeting. It is the language. Procurement work is full of abbreviations. In one meeting, someone may talk about a PR, PO, RFQ, MOQ, SLA, KPI, TCO, ERP, and ESG as if everyone already…