Senior executive who is responsible for the management and coordination of key sourcing, purchasing and supply processes through a buying organization. Sometimes reports directly to the CEO, but...
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Individual or group of organizations entering into an agreement with a supplier for products and services for their own use. Also sometimes referred to as the "buyer".
Cash on Delivery. A payment term.
The development of computer programs that can teach themselves to grow and change when exposed to new data. Sometimes referred to as "machine learning".
A security or guarantee (usually an asset) pledged for the repayment of a loan if one cannot procure enough funds to repay (originally supplied as "accompanying" security).
Commercial risk is related to the uncertainty with regard to the price we will pay and the costs that we will incur when having outsourced activities to the supplier.
Any physical item that is traded in commerce. The term usually implies an undifferentiated product competing primarily on price and availability. Also referred to as a "good" or "...
The practice of grouping like purchased items into common groups which are then managed by a single buyer / agent. This practice assumes that an individual who is more focused on a range of...
A common method of selecting sources for contract awards. Suppliers interested in participating in the process are asked to submit information on prices and/or other specified elements. Major...
Competitive dialogue is a procedure introduced into the European Union public procurement system in 2004 to provide an improved method for awarding complex contracts, such as those for public...