Important definitions and terminologies used in Procurement
A
- arbitration in Procurement
- Asset management in Procurement
- award in Procurement
B
- best and final offer in Procurement
- Bid in Procurement
- bid security (bid bond) in Procurement
- bidder, proposer, offeror in Procurement
- bill of lading in Procurement
- Bill of materials (BOM) in Procurement
- bill of quantities in Procurement
- Blanket order in Procurement
- blanket purchase order in Procurement
- buyer in Procurement
C
- catalogue in Procurement
- Category management in Procurement
- Centralized procurement in Procurement
- collaborative procurement, common procurement in Procurement
- Competitive bidding in Procurement
- Compliance audit in Procurement
- Compliance in Procurement
- Compliance management in Procurement
- consignment in Procurement
- contract administration in Procurement
- Contract in Procurement
- Contract management in Procurement
- contract modification in Procurement
- Contract negotiation in Procurement
- contractor in Procurement
- Cost analysis in Procurement
- cost estimate in Procurement
- Counteroffer in Procurement
- Cross-functional team in Procurement
- Customs clearance in Procurement
D
- Data analysis in Procurement
- default in Procurement
- Delivery in Procurement
- delivery time in Procurement
- Demand forecasting in Procurement
- Demand management in Procurement
- Disposal in Procurement
- Due diligence in Procurement
E
- E-auction in Procurement
- E-procurement in Procurement
- Early payment discount in Procurement
- Electronic data interchange (EDI) in Procurement
- End-to-end procurement in Procurement
- Escrow in Procurement
- Ethical sourcing in Procurement
- Evaluation in Procurement
- exigency in Procurement
- Expedite in Procurement
- Expediting in Procurement
- expression of interest in Procurement
F
- fixed price in Procurement
- Force majeure in Procurement
- Framework agreement in Procurement
G
- general conditions of contract in Procurement
- global compact in Procurement
- Global sourcing in Procurement
- Global supply chain in Procurement
- goods in Procurement
- Green procurement in Procurement
- guarantee in Procurement
I
- Import/export regulations in Procurement
- Incoterms in Procurement
- Insolvency in Procurement
- Insourcing in Procurement
- Inspection in Procurement
- intellectual property in Procurement
- Intellectual property rights in Procurement
- Inventory control in Procurement
- inventory in Procurement
- Inventory management in Procurement
- Inventory turnover in Procurement
- invitation to bid in Procurement
- Invoice in Procurement
J
- Just-in-case inventory in Procurement
- Just-in-time (JIT) in Procurement
K
- Key performance indicators (KPIs) in Procurement
L
- lead time in Procurement
- Lean procurement in Procurement
- Legal review in Procurement
- letter of intent in Procurement
- liability in Procurement
- life cycle cost, whole life cost, total cost of ownership in Procurement
- liquidated damages in Procurement
- Logistics in Procurement
- long term agreement in Procurement
M
- Maintenance, repair, and operations (MRO) in Procurement
- Make-or-buy decision in Procurement
- Market analysis in Procurement
- Market research in Procurement
- Material management in Procurement
- Material requirements planning (MRP) in Procurement
- Materials planning in Procurement
- maverick buying in Procurement
- memorandum of understanding in Procurement
N
- Negotiation in Procurement
- net present value in Procurement
- Non-conformance in Procurement
- Non-disclosure agreement in Procurement
O
- offer, tender, submission in Procurement
- Open purchase order in Procurement
- option in Procurement
- Order in Procurement
- Outsourcing in Procurement
- Outsourcing vs insourcing in Procurement
P
- Payment terms in Procurement
- Payment terms negotiation in Procurement
- Performance evaluation in Procurement
- performance security (performance bond) in Procurement
- Preferred supplier in Procurement
- Price analysis in Procurement
- Procurement analytics in Procurement
- Procurement audit in Procurement
- procurement in Procurement
- procurement review committee, review committees on contracts, or committee on contracts in Procurement
- Procurement strategy in Procurement
- Procurement system in Procurement
- proposal in Procurement
- Purchase order in Procurement
- Purchase requisition in Procurement
- purchasing card in Procurement
Q
- Quality assurance in Procurement
- Quality control in Procurement
- Quality management in Procurement
- Quality standards in Procurement
- Quotation in Procurement
R
- receipt of goods, goods receipt note in Procurement
- Receiving inspection in Procurement
- remedy in Procurement
- Request for expression of interest (REOI) in Procurement
- request for expression of interest in Procurement
- Request for information (RFI) in Procurement
- request for information in Procurement
- Request for proposal (RFP) in Procurement
- request for proposal in Procurement
- Request for quotation (RFQ) in Procurement
- request for quotation in Procurement
- requisition in Procurement
- requisitioner in Procurement
- residual value in Procurement
- Return on investment (ROI) in Procurement
- Reverse auction in Procurement
- Reverse logistics in Procurement
- Risk assessment in Procurement
- Risk management in Procurement
S
- sealed offer in Procurement
- security instruments in Procurement
- segregation of duties in Procurement
- Service level agreement (SLA) in Procurement
- Service procurement in Procurement
- services in Procurement
- single source in Procurement
- Single-source procurement in Procurement
- sole source in Procurement
- solicitation documents in Procurement
- solicitation in Procurement
- Source-to-pay in Procurement
- Sourcing in Procurement
- specifications in Procurement
- Spend analysis in Procurement
- Stakeholder in Procurement
- standardization in Procurement
- statement of work in Procurement
- stewardship in Procurement
- Strategic partnership in Procurement
- Strategic sourcing in Procurement
- subcontractor in Procurement
- Supplier collaboration in Procurement
- Supplier development in Procurement
- Supplier diversity in Procurement
- Supplier evaluation in Procurement
- Supplier in Procurement
- Supplier performance metrics in Procurement
- Supplier qualification in Procurement
- Supplier relationship management (SRM) in Procurement
- Supplier scorecard in Procurement
- supplier, vendor in Procurement
- Supply chain collaboration in Procurement
- Supply chain in Procurement
- Supply chain management in Procurement
- Supply chain risk in Procurement
- Sustainable procurement in Procurement
T
- Tactical sourcing in Procurement
- Terms and conditions in Procurement
- terms of reference in Procurement
- Total cost of acquisition (TCA) in Procurement
- Total cost of ownership (TCO) in Procurement
- transparency in Procurement
V
- Vendor assessment in Procurement
- Vendor consolidation in Procurement
- Vendor contract in Procurement
- Vendor in Procurement
- Vendor management in Procurement
- Vendor rating in Procurement
- Vendor selection in Procurement
W
- Warehouse in Procurement
- Warehouse management in Procurement
- Warranty in Procurement
- works in Procurement
Z
- Zero-based budgeting in Procurement
