Glossary

The words LCPP uses, in plain language. Where a word is also a status, it is shown the way the product shows it.

Deals

Request

A buyer's list of what they need, before anyone has committed to supply it. One request can produce several purchase orders. See the things that move.

Line

One item on a request, purchase order or quote: a product or description, a quantity and a unit.

Sourcing

Choosing which supplier supplies each line. LCPP proposes a plan; the buyer decides. See step 1.

Sourcing strategy

What the proposal favours: balanced, lowest price, fewest suppliers or fastest.

Purchase order (PO)

A contract between one buyer and one supplier for some lines. The centre of every deal. See step 3.

PO version

Every accepted correction makes a new version of the PO; earlier versions stay visible.

Issue

To turn a request into purchase orders and send them to suppliers.

Confirmation

The supplier's commitment to a PO, line by line: in full, in part, later, substitute, or can't supply.

Correction

A proposed change to a PO that the other side must accept, counter or reject. The only way a PO changes after it is issued. See step 7.

Counter

An answer to a correction that proposes something else, such as a refund instead of a replacement.

Substitute

A different product offered in place of the one ordered.

Dispute

A correction escalated to platform staff because the sides could not agree. Ends with a mediated outcome.

Goods receipt

The buyer's line-by-line check of what arrived: OK, short, damaged or wrong.

Sign-off

Signing the goods receipt. The finish line of an order: Signed off. See step 6.

Return

Damaged or wrong goods the supplier collects, followed by a replacement or a credit.

End state

Where an order finishes: closed after sign-off, rejected, cancelled, or resolved after a dispute.

Buying tools

Catalogue

Every product on the platform and every supplier's offer for it. See the catalogue.

Master product

The one shared description of a real-world item, by its category's attributes. Offers point to it.

Offer

One supplier's price, stock or lead time and minimum quantity for a master product.

Stale offer

An offer the supplier hasn't confirmed for a week.

RFQ (request for quotes)

Lines sent to chosen suppliers to price by a deadline, when no one lists them or to make suppliers compete. See RFQs and BOQs.

Quote

A supplier's answer to an RFQ.

Award

Choosing winning quotes, line by line or whole. Each winner gets a PO.

BOQ (bill of quantities)

A full list of materials for a job, usually a spreadsheet, PDF or photo, turned into request lines.

Saved list

A reusable list of materials a company buys often.

Companies

Business type

What kind of business an organisation is: construction, restaurants, factories, shops or other. It changes a few words in the apps (a "project" is a "branch" for a restaurant) and which catalogue categories apply. See what LCPP is.

Project

A company's job: site, scope and budget. Requests and orders belong to one. See projects and teams.

Committed / received spend

Ordered from suppliers / signed off on site, per project.

Approval rule

A company rule that holds a request or award for an approver, for example above an amount or over budget. See step 2.

Approval limit

The highest amount a given approver may approve.

Owner, buyer, approver, site receiver, viewer

The roles within a company. See contractors.

Plan

A company's subscription (Free, Pro or Enterprise), which sets seats and features.

Suppliers and money

Seller of record

The supplier. It invoices the buyer and is paid by the buyer directly.

Pay on delivery

Paying the driver or the counter at handover instead of up front.

Pickup code

A code the buyer shows when collecting; the supplier enters it to prove the handover.

Delivery terms

A supplier's zones, fees and free-delivery thresholds.

Contract

The agreement between LCPP and a supplier: commission rates per category, payment terms and service levels.

Service levels

What a supplier commits to, such as confirming within 4 hours and answering quotes on time.

Commission

What a supplier owes LCPP on signed-off orders, at its contract rates.

Settlement

The monthly run that turns signed-off orders into commission invoices, approved by two staff. See step 8.

Commission invoice

The supplier's monthly bill from LCPP: due, payment reported, paid, overdue or disputed.

Leakage

Deals moved off the platform to avoid commission. Signs open a case for staff to review.

Platform

Supplier pipeline

The stages a supplier passes to sell on LCPP: lead, applied, contract sent, signed, live (or paused). See onboarding.

Paused

A supplier whose listings are hidden until something is fixed.

Merge queue

Products that look like duplicates, waiting for catalogue staff to merge or separate them.

Two-person rule

Sensitive changes are proposed by one staff member and approved by a different admin. See trust.

View as

Read-only, ticketed, time-limited support access to a user's account.

Audit log

The record of every staff action and sensitive change.