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Procurement, Purchase Orders, Requisitions: What’s the Difference?

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To people outside the procurement industry, terms like Procurement, Purchase Orders, Requisitions, and the like might all sound like the same side of a very business-like coin. But there are important differences between all three. Sure, they all play an important part in the business supply chain, and they sound impressive when strung together properly in a sentence — “Hey, Barry, did you write up a purchase order for the hula hoops requisitioned for procurement by human resources?” — but they are all different. Knowing the difference could save you time, money, and embarrassment at the next staff party when you…