The Procurement Glossary đź“š
Definitions and explanations of the most common terms used in procurement.
Your resource for when you forget that (one of many) procurement acronym.
A
Audit Trail
It's like leaving breadcrumbs on your procurement journey, so you can always trace back your steps and decisions.
B
Benchmarking
It's like checking out what the neighbors are doing to see how you stack up. Helps you figure out where you can up your game in procurement.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
C
Cost Analysis
Digging deep into the price tag to understand the nitty-gritty of what you're paying for and why. It's all about getting the best bang for your buck.
Contract Redlines
It's like editing a draft, but for contracts. You mark it up with changes before everything goes digital.
Contract Execution
This is the grand finale of contract talks - when you and the supplier sign on the dotted line.
Contract Reviews
This is when you give contracts a good once-over to make sure they're solid, safe, and sound.
Contract Management
It's all about keeping tabs on your deals with suppliers, from the moment you start talking till the deal is done.
Category Management
Think of it as sorting your shopping into different baskets, then managing each basket to get the best deals.
Category Managers
These are the strategists of procurement, focusing on specific categories of spend. They're all about getting the best value and building strong supplier relationships in their niche.
D
Direct Procurement
This is about buying the stuff that goes directly into your products or services. Think raw materials, components, and ingredients.
E
E
F
F
G
Global Sourcing
Shopping around the world for the best suppliers, like a global treasure hunt for your business.
H
H
I
IT Procurement
This is all about getting the techy stuff—software, hardware, cloud services—you name it, in the smartest way possible.
Indirect Procurement
This one's all about the things you need to keep the business running smoothly, like office supplies, software, and maintenance services.
Incoterms
These are the rulebooks for international trade, laying out who does what, where, and when.
I
IT Procurement
This is all about getting the techy stuff—software, hardware, cloud services—you name it, in the smartest way possible.
Indirect Procurement
This one's all about the things you need to keep the business running smoothly, like office supplies, software, and maintenance services.
Incoterms
These are the rulebooks for international trade, laying out who does what, where, and when.
I
IT Procurement
This is all about getting the techy stuff—software, hardware, cloud services—you name it, in the smartest way possible.
Indirect Procurement
This one's all about the things you need to keep the business running smoothly, like office supplies, software, and maintenance services.
Incoterms
These are the rulebooks for international trade, laying out who does what, where, and when.
L
Logistics Procurement
This involves getting your logistics game on point, ensuring that goods get from A to B efficiently and cost-effectively.
Life-Cycle Costing
Looking at the cost of a product over its entire life, not just the price tag at purchase. It's the long game in spending.
L
Logistics Procurement
This involves getting your logistics game on point, ensuring that goods get from A to B efficiently and cost-effectively.
Life-Cycle Costing
Looking at the cost of a product over its entire life, not just the price tag at purchase. It's the long game in spending.
M
Marketing Procurement
It's like shopping for creativity. Getting deals on advertising, digital services, and all that jazz to make your brand shine.
Make-or-Buy Decision
Deciding whether to make something in-house or buy it from someone else. It's like choosing between cooking and takeout.
M
Marketing Procurement
It's like shopping for creativity. Getting deals on advertising, digital services, and all that jazz to make your brand shine.
Make-or-Buy Decision
Deciding whether to make something in-house or buy it from someone else. It's like choosing between cooking and takeout.
N
Negotiation Strategies
The game plans you use to get the best deals. It's like knowing the right chess moves in business.
O
Outsourcing
When you get someone outside your company to do the work. It's like hiring a DJ for your party instead of making your own playlist.
P
Professional Services Procurement
This is about hiring the brains—consultants, lawyers, accountants—to help navigate the business world.
Procurement vs. purchasing
Procurement is the behind-the-scenes work before you buy, like choosing the right suppliers. Purchasing? That's when you actually buy.
P
Professional Services Procurement
This is about hiring the brains—consultants, lawyers, accountants—to help navigate the business world.
Procurement vs. purchasing
Procurement is the behind-the-scenes work before you buy, like choosing the right suppliers. Purchasing? That's when you actually buy.
P
Professional Services Procurement
This is about hiring the brains—consultants, lawyers, accountants—to help navigate the business world.
Procurement vs. purchasing
Procurement is the behind-the-scenes work before you buy, like choosing the right suppliers. Purchasing? That's when you actually buy.
Q
QBR - Quarterly business review
A regular check-in every three months to see how things are going in the business world.
R
Risk Assessment
It's like a safety check for your business deals. Figuring out what could go wrong and how to keep it all on track.
RFP - Request for Proposal
This is when you ask suppliers to pitch their best plans to you, based on what you need.
RFI - Request for Information
This is when you're on the hunt for info about potential suppliers, kind of like business window shopping.
RFQ - Request for Quotation
Here, you're asking suppliers to give you the nitty-gritty on their prices.
R
Risk Assessment
It's like a safety check for your business deals. Figuring out what could go wrong and how to keep it all on track.
RFP - Request for Proposal
This is when you ask suppliers to pitch their best plans to you, based on what you need.
RFI - Request for Information
This is when you're on the hunt for info about potential suppliers, kind of like business window shopping.
RFQ - Request for Quotation
Here, you're asking suppliers to give you the nitty-gritty on their prices.
R
Risk Assessment
It's like a safety check for your business deals. Figuring out what could go wrong and how to keep it all on track.
RFP - Request for Proposal
This is when you ask suppliers to pitch their best plans to you, based on what you need.
RFI - Request for Information
This is when you're on the hunt for info about potential suppliers, kind of like business window shopping.
RFQ - Request for Quotation
Here, you're asking suppliers to give you the nitty-gritty on their prices.
R
Risk Assessment
It's like a safety check for your business deals. Figuring out what could go wrong and how to keep it all on track.
RFP - Request for Proposal
This is when you ask suppliers to pitch their best plans to you, based on what you need.
RFI - Request for Information
This is when you're on the hunt for info about potential suppliers, kind of like business window shopping.
RFQ - Request for Quotation
Here, you're asking suppliers to give you the nitty-gritty on their prices.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
S
Supplier Diversification
Not putting all your eggs in one basket. It's about having a mix of suppliers to reduce risks and maybe even snag better deals.
Spend Analysis
Taking a magnifying glass to where your money's going. It's about understanding your spending habits to make smarter buying decisions.
Supply Chain Transparency
It's like having a clear window into where your stuff comes from, so everyone knows it's all above board.
Subcontract Management
This is when you're juggling all the smaller contracts under a big one, making sure everything runs smoothly.
Sustainability
It's about being a good ancestor, making sure we don't mess up the planet for future generations.
Supplier Relationship Management
This is all about keeping a good vibe with your suppliers, making sure you both get the most out of working together.
Supplier Onboarding
It's like welcoming a new player to your team, getting them up to speed with how things work in your business.
Sole Source
This is when you've got only one supplier who can provide what you need, so you've got to go with them.
Single Source
It's when you put all your eggs in one basket, buying everything from just one supplier.
Strategic Sourcing
This is smart shopping for your business. You're not just buying; you're thinking long-term and getting the best bang for your buck.
Sourcing
It's like scouting for the best team players for your business needs in the supplier world.
Stakeholder
Anyone who's got a stake in what you're doing. They could be inside or outside your company, like team members, suppliers, or even customers.
T
Travel Procurement
It's all about managing travel needs and expenses, from flights to hotels, ensuring hassle-free business trips.
Total Cost of Ownership (TCO)
Looking at the big picture of what you're spending, not just the price tag. It includes all costs from start to finish.
Third Party Risk Management
It's about playing it safe when you're working with outside companies, making sure there are no nasty surprises.
Tender
This is a formal 'Who wants to work with us?' call, especially common in government gigs.
T
Travel Procurement
It's all about managing travel needs and expenses, from flights to hotels, ensuring hassle-free business trips.
Total Cost of Ownership (TCO)
Looking at the big picture of what you're spending, not just the price tag. It includes all costs from start to finish.
Third Party Risk Management
It's about playing it safe when you're working with outside companies, making sure there are no nasty surprises.
Tender
This is a formal 'Who wants to work with us?' call, especially common in government gigs.
T
Travel Procurement
It's all about managing travel needs and expenses, from flights to hotels, ensuring hassle-free business trips.
Total Cost of Ownership (TCO)
Looking at the big picture of what you're spending, not just the price tag. It includes all costs from start to finish.
Third Party Risk Management
It's about playing it safe when you're working with outside companies, making sure there are no nasty surprises.
Tender
This is a formal 'Who wants to work with us?' call, especially common in government gigs.
T
Travel Procurement
It's all about managing travel needs and expenses, from flights to hotels, ensuring hassle-free business trips.
Total Cost of Ownership (TCO)
Looking at the big picture of what you're spending, not just the price tag. It includes all costs from start to finish.
Third Party Risk Management
It's about playing it safe when you're working with outside companies, making sure there are no nasty surprises.
Tender
This is a formal 'Who wants to work with us?' call, especially common in government gigs.
V
Vendor Management
Keeping a good relationship with your suppliers. It's like being a friendly neighbor who also means business.
W
Win-Win Negotiation
This is when everyone at the negotiation table walks away happy, a real team effort.