Ad-Hoc Purchase Definition
An ad-hoc purchase is an unplanned or emergency purchase that is not part of a company’s usual buying process. This type of purchase is often made in response to a one-time need or opportunity, and is not part of a company’s long-term planning.
Ad-hoc purchases can be made for a variety of reasons, including unexpected demands from customers, sudden changes in market conditions, or unanticipated opportunities. Because they are not part of the company’s normal buying process, ad-hoc purchases can often be more expensive than planned purchases.
Ad-hoc purchases can also be more risky than planned purchases, as there is less time to research vendors and compare prices. In some cases, ad-hoc purchases may also be subject to different terms and conditions than planned purchases.
As a result, companies should carefully consider the risks and costs associated with ad-hoc purchasing before making this type of purchase. When making an ad-hoc purchase, companies should take steps to ensure that they are getting the best possible value for their money.
