Purchase Requisition – A departmental request for a standard purchase order required by policy and procedure or vendor. Typically used for transactions over $2,000.  Purchase requisitions created in IBIS.

Purchasing Card (“Pcard”) – A Visa card issued by PNC Bank assigned to an employee in a Penn State department for business purposes. Used when transactions are low dollar and low-risk and a purchase order is not required. Often a preferred method of payment for Internet and point-of-sale purchases.

Purchase Order – Order placed with a supplier by Procurement at the request of department by purchase requisition because policy and procedure or supplier requires it. Typically used for transactions over $2,000.

University Contract – Enhanced contracts that Procurement establishes with selected suppliers in order to maximize the purchasing power of the University while reducing the overall cost of goods and services.

Supplier – A provider of goods and services that typically is incorporated, bills on an invoice and has multiple transactions with the University.

Sole Source Justification – Document required when a specified vendor and/or manufacturer is indicated as the desired single or sole source and justification is provided in writing.

Standing Order – Open-ended purchase order placed by Procurement at the request of a department by purchase requisition. Allows for addition of items and/or extension of time. Requirements used in volume and purchased repetitively over a period of time may be bought in this manner, although use of the purchasing card is encouraged.

Cost savings – Spending less than previously spent or less than quoted options.

Cost avoidance – Reduction or elimination of a new cost that would have otherwise occurred.

Receiving Report – Form used to transmit to Purchasing Services the fact that material or services ordered on a Purchase Order (PURC or paper PO) has been received at the specified location. This will permit charges against a departmental budget, payment to the vendor, and closure of the order in the database and in Purchasing Services.

Partial Receiving Report – Form used to provide a means of notifying Purchasing Services that partial shipments have been received against a Purchase Order. This form permits charges against a departmental budget and payment to the vendor.