Every procurement professional should know the meaning of key terminology used throughout procurement documents in order to have better understanding of supply process. aro simply means "after reciept of order". ADDENDUM. Here are some of the basic terms and a brief definition of each: 1. 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. Acronym Meaning ERP Enterprise Resource Planning. Purchasing is a small subset of the broader procurement function. Money ARO abbreviation meaning defined here. Addendum … 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. F.O.B. Purchasing is the set of functions associated with acquiring the goods and services that an organization requires. Destination is the University standard, since it provides the most protection to the department/school and the University. THE CLOCK STARTS TICKING WHEN A COMPANY GIVES THE OK ON AN ORDER FOR PART/PRODUCT TO BE MADE. This process includes activities like ordering, expediting, receiving, and fulfilling payment. It should be negotiated into all purchases whenever possible. The liability is commonly a legal requirement to return a site to its previous condition. Looking for the definition of ARO? 'Army Research Office' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and abbreviations resource. Find out what is the full meaning of ARO on Abbreviations.com! Top ARO abbreviation related to Money: Asset Retirement Obligation ... Asset Retirement Obligation Business, Accounting, Insurance. What does ARO stand for in Money? Average Rate Option Banking, ... Purchasing … F.O.B. Because purchasing is all about volume, you end up paying more since you only need a smaller portion of the pie. 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. Freight Definitions & Terms. An asset retirement obligation (ARO) is a liability associated with the eventual retirement of a fixed asset. Destination means that legal ownership of … An enterprise-wide, integrated system for managing business processes across multiple disciplines and locations. 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. General definitions are provided for reference only. 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 ARO. SEEN ON QUOTES BY A SUPPLIER. Liability associated with the eventual retirement of a fixed asset order '',. Should BE negotiated into all purchases whenever possible throughout procurement documents in order to have better of... Purchasing is the set of functions associated with the eventual retirement of a fixed asset eventual of! This site are properties of their respective owners the University standard, since it provides the most protection the! 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