Here are some of the basic terms and a brief definition of each: 1. An enterprise-wide, integrated system for managing business processes across multiple disciplines and locations. This process includes activities like ordering, expediting, receiving, and fulfilling payment. Because purchasing is all about volume, you end up paying more since you only need a smaller portion of the pie. It should be negotiated into all purchases whenever possible. THE CLOCK STARTS TICKING WHEN A COMPANY GIVES THE OK ON AN ORDER FOR PART/PRODUCT TO BE MADE. ADDENDUM. Destination is the University standard, since it provides the most protection to the department/school and the University. Purchasing is the set of functions associated with acquiring the goods and services that an organization requires. Average Rate Option Banking, ... Purchasing … ARO. An asset retirement obligation (ARO) is a liability associated with the eventual retirement of a fixed asset. C; Acronym Description; Catalog Price: Price included in a catalog, price list, schedule, or other form that is regularly maintained by the manufacturer or vendor, is either published or otherwise available for inspection by customers, and states prices at which deals are currently, or were last, made to a significant number of buyers constituting the general public. By joining a GPO, you’re able to leverage the collective buying power of a group of people, meaning you can take advantage of those larger discounts without actually purchasing more. FAA Federal Aviation Administration FHWA Federal Highway Administration FMP Fair Market Price FIN Federal Identification Number FOB Freight on Board FYE Fiscal Year End GR Find out what is the full meaning of ARO on Abbreviations.com! Purchasing is a small subset of the broader procurement function. Top ARO abbreviation related to Money: Asset Retirement Obligation ... Asset Retirement Obligation Business, Accounting, Insurance. Destination means that legal ownership of … F.O.B. General definitions are provided for reference only. What does ARO stand for in Money? DISCLAIMER: This listing pertains to commonly used acronyms, words, and phrases associated with the NYS Office of General Services centralized procurement program and is not inclusive of every acronym, word, or phrase used within this program or in other government procurement programs. Freight Definitions & Terms. 'Army Research Office' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and abbreviations resource. aro simply means "after reciept of order". The World's most comprehensive professionally edited abbreviations and acronyms database All trademarks/service marks referenced on this site are properties of their respective owners. Acronym Meaning ERP Enterprise Resource Planning. The liability is commonly a legal requirement to return a site to its previous condition. F.O.B. 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