UT Market Glossary
The action a user takes to route a UT Market shopping cart to another person using the Assign Cart button.
A staff member in a department who is authorized to check out carts in UT Market, create electronic requisition documents in FRMS, and place orders to internal suppliers on the department’s behalf. The term buyer is also used to refer to staff members in the Purchasing Office who oversee university procurement activities.
A type of electronic document in FRMS that is used to cancel a previously final approved document. For FRMS Procurement, a Cancel document is used to cancel a purchase order after coordinating the cancellation with the supplier.
A collection of items that you intend to order from suppliers. In UT Market, carts can be assigned to other individuals for review and are ultimately checked out by a buyer and used to create orders that are sent to suppliers.
See modify document.
A process of transmitting UT Market carts to FRMS Procurement to create orders. When shopping in supplier punch-out sites, the supplier may use the term check out to refer to the process of returning cart items from the supplier’s cart to your UT Market cart.
The process of transmitting a purchase order to a supplier to be filled. UT Market orders are always dispatched electronically by FRMS Procurement. Departments do not need to contact suppliers to place orders.
Short for “electronic commerce,” eCommerce means placing orders with suppliers electronically via the Web.
A supplier that is not a University of Texas at Austin department or service center.
Abbreviation for Financial Resource Management System, FRMS is a growing collection of administrative financial applications available on the Web.
A supplier whose catalog of products is loaded to UT Market by the supplier. Users search for products for a hosted supplier from within UT Market.
A University of Texas at Austin department or service center.
A type of electronic document in FRMS that is used to change a previously final approved document. For FRMS Procurement, a Modify document is used to change a purchase order after coordinating the change with the supplier.
A supplier whose catalog of products is accessible by entering a custom version of the supplier's website through UT Market. A user accesses a punch-out supplier’s website by clicking the supplier’s logo from the UT Market home page. The punch-out supplier automatically recognizes the user as a University of Texas at Austin employee and show university pricing.
A formal agreement to order goods or services from a supplier. A final approved requisition in FRMS results in a purchase order.
A record of goods that has been received by the ordering department. Departments must create electronic receipts for UT Market orders that are delivered directly to the department.
A request to purchase a good or service. An electronic document in FRMS Procurement that, when final approved, results in a purchase order to a supplier for the procurement of goods or services.
An employee who uses UT Market to browse supplier product catalogs.
A business entity that sells goods or services to The University of Texas at Austin.
A website where University of Texas at Austin employees can browse product catalogs of selected suppliers, create carts of items to be ordered from one or more suppliers, and check out carts to create orders in FRMS Procurement.