November 2021

Engineering and Construction

Purchase order, contract or purchase agreement: Which is best for your procurement strategy?

Procuring equipment, materials and services are very important to a project’s financial success.

Berg, J., ShureLine Construction; Parmar, A., COIM USA; Rentschler, C., Shahani, G., Consultant

Procuring equipment, materials and services are very important to a project’s financial success. Extensive effort is focused on achieving quality purchases in a timely fashion at the best possible price. Most major companies procure materials and services globally. Therefore, a broad spectrum of sellers and external factors must be considered. To ensure that the supplies of products and services are consistent with what has been agreed to, purchase orders (POs), contracts and purchase agreements are widely used in the procurement process. Each of these approaches has its benefits and challenges. Sometimes a combination of these documents is used. This article describes each document type and

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