Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
- 1PL Logistics
- 2PL Logistics
- 3PL Logistics
- 4PL Logistics
- 5PL Logistics
- Absorption Costing
- Acceptable Quality Limit
- Acceptance
- Acceptance Sampling
- Acceptance Testing
- Account Manager
- Accounting Period
- Accounting Rate of Return
- Accounts Payable
- Accounts Receivable
- Accrual Accounting
- Acknowledgement
- Acquisition
- Acquisition Cost
- Acquittal
- Act of God
- Activity Based Costing
- Activity, Non Value Adding
- Ad Valorem
- Added value
- ADR
- Advice Note
- Agency
- Aggregation
- Agility
- Agreement
- Air Waybill
- Airtime
- Alignment
- Alliance
- Alliance, Strategic
- Allocated Stock
- Allocation
- Alpha Numeric Coding Schemes
- Alternative Dispute Resolution
- Analysis
- Appraisal cost
- Appraisal, Supplier
- Approval
- Approved List
- Arbitrage
- Arbitration
- Arm’s Length Relationship
- ARR
- Assemble to Order
- Asset
- Asset, Current
- Asset, Fixed
- Asset, Intangible
- Asset Specificity
- Asset, Tangible
- Assignment
- Auction
- Auction, Dutch
- Audit
- Available Stock
- Average Rate of Return
- Back Door Selling
- Back Order
- Backhaul
- Backlog
- Backward Integration
- BAFO
- Balance Sheet
- Balanced Scorecard
- Barcode
- Bargaining
- Barter
- Baseline
- Batch
- BATNA
- Battle of the Forms
- BAU
- Benchmarking
- Benefits
- Benefits Realisation Plan
- Best Alternative to a Negotiated Agreement
- Best and Final Offer
- Best in Class
- Best Practice
- Best Value
- Bid
- Bid Analysis
- Bid Rigging
- Bid Rotation
- Bid Suppression
- Bidder, Unsuccessful
- Bidding, Competitive
- Bidding, Two Stage
- Bilateral Contract
- Bill of Lading
- Bill of Materials
- Blanket Order
- Blanket Release
- Boilerplate Clause
- Bond
- Bonded Warehouse
- BOOM Contract
- BOOT Contract
- Bottleneck
- BPO
- Breach of Contract
- Break Bulk
- Broker
- Budget
- Budgeting, Zero Based
- Buffer Stock
- Bulk Freight
- Bullwhip Effect
- Business as Usual
- Business Case
- Business Function, UNSPSC
- Business Process Outsourcing
- Buyback
- Buyer
- Buyer’s Market
- Cabotage
- Capability
- Capacity
- CAPEX
- Capital Equipment
- Carbon
- Carbon Credit
- Carbon Footprint
- Carbon Neutral
- Carbon Offset
- Carbon Tax and Trading
- Carrying Cost
- Cartel
- Category
- Category Analysis
- Category Management
- Category manager
- Centralisation
- Certificate of Origin
- CFR
- Chaebol
- Change Management
- Change Order
- CIF
- CIP
- Claim
- CLAN
- Clarification
- Class, UNSPSC
- Clause, Boilerplate
- Client Furnished Equipment
- Close Out
- Code of Conduct
- Coding Systems
- Coercion
- Collusion
- Commercially sensitive information
- Commodities Exchange
- Commodity
- Commodity, UNSPSC
- Competence
- Competition
- Competition and Consumer Act 2010
- Competition, Imperfect
- Competitive Bidding
- Compliance
- Compromise
- Condition
- Conditioning
- Conflict Resolution
- Consideration
- Consignment Stock
- Consolidator
- Consumable
- Container
- Contingency
- Contingency Planning
- Contra Deal
- Contract
- Contract, Bilateral
- Contract, BOOM
- Contract, BOOT
- Contract, Futures
- Contract governance groups
- Contract, Hire
- Contract management
- Contract metrics
- Contract, Open Book
- Contract Owner
- Contract, Performance Based
- Contract price
- Contract scope
- Contract, Scorecard
- Contract, Termination of
- Contract, Time and Materials
- Contract, Turnkey
- Contract Types
- Contract, Unenforceable
- Contract, Unilateral
- Contracting, Traditional
- Contractual Term
- Cooperation
- Copyright
- Corporate Social Responsibility
- Corrective Action
- Cost
- Cost, Acquisition
- Cost Avoidance
- Cost Base
- Cost Benefit Analysis
- Cost Down
- Cost Driver
- Cost-effective suppliers
- Cost, Fixed
- Cost Leadership
- Cost, Marginal
- Cost of Capital
- Cost of Goods Sold
- Cost, Opportunity
- Cost Out
- Cost Plus
- Cost, Reimbursable
- Cost-saving levers
- Cost, Semi-variable
- Cost to Serve
- Cost, Variable
- Costing, Absorption
- Costing, Activity Based
- Counter Offer
- Countertrade
- CPT
- Criteria
- Cross Docking
- Cross Functional Team
- Culture
- Current Asset
- Current Liabilities
- Customer, Preferred
- Customisation, Late
- Cycle Time
- Damages
- Damages, Liquidated
- Damages, Unliquidated
- Dangerous Goods
- DAP
- DAT
- Data
- Deadheading
- Decentralisation
- Default Notice
- Deflation
- Delayering
- Delegated Financial Authority
- Delivery
- Delivery In Full and On Time
- Demand Forecasting
- Demand Management
- Demand Pull
- Demurrage
- Design and Construct
- Detailed Specification
- DIFOT
- Digital procurement system
- Direct Materials
- Disaster Recovery
- Discount
- Discounted Cash Flow
- Disintermediation
- Dispute Resolution
- Distorted Market
- Distribution
- DMAIC
- Dock Leveller
- Downstream
- Downtime
- Duress
- e-Commerce
- e-Marketplace
- e-Procurement
- EAN
- Early Procurement Involvement
- Early Supplier Involvement
- Earnings per Share
- Economic Order Quantity
- Economic Value Added
- Economies of Scale
- ECR
- EDI
- Efficient Consumer Response
- Electronic Data Interchange
- Electronic Supply Chain
- Emotional Intelligence
- Engineer, Procure and Construct
- Engineer, Procure, Install and Commission
- Engineer, Procure, Install, Commission, Operate and Maintain
- Engineering, Procurement and Construction Management
- Enquiry
- Enterprise Resource Planning
- Entry Barriers
- Environment
- EOQ
- EPC
- EPCM
- EPIC
- EPICOM
- Equipment, Capital
- Equipment, Client Furnished
- Equivalent capability
- ERP
- Escalation
- Estoppel
- Ethics
- European Article Number
- Evaluation
- Evaluation, Technical
- Evaluation, Tender
- Exchange Rate
- Exclusivity
- Expediting
- Expendable
- Expenditure, Capital
- Experience Curve
- Explicit Knowledge
- Expression of Interest
- EXW
- Facilitation
- Failure Mode and Effects Analysis
- Family, UNSPSC
- FAS
- FCA
- FCL
- Federal Structure
- Feedback
- FIFO
- First In, First Out
- Fit for Purpose
- Five Forces Analysis
- Five Rights
- Fixed Cost
- Fixed Price
- Fly In, Fly Out
- FMEA
- FOB
- Formula Pricing
- Forrester Effect
- Forward Buying
- Forward Commitment Procurement
- Freight Forwarder
- Full Container Load
- Functional Specification
- Futures Contract
- Gain Sharing
- Game Theory
- Gatekeeper
- Globalisation
- Goods, Dangerous
- Goods, Unascertained
- Governance
- Greenhouse Gases
- Greenwash
- Hazardous Purchases
- Hazchem
- Hedging
- High value critical contract
- Hire Contract
- Hire Purchase
- IMF
- Imperfect Competition
- Implied Term
- Inbound Logistics
- Incentive Bonus
- Incentives
- Incoterms
- Incumbent
- Indemnity
- Indicators
- Indirect Materials
- Inflation
- Influencing
- Information
- Innovation
- Input Specification
- Insourcing
- Insurance
- Insurances certificates
- Integration, Backward
- Integration, Vertical
- Intellectual Property
- Intermediary
- Intermodal Freight Containers
- International Article Number
- Inventory
- Inventory Carrying Cost
- Inventory Control
- Inventory, Vendor Managed
- Inventory, Zero
- Investment Appraisal
- Invitation to Offer
- Invitation to Treat
- Invoice
- Invoice, Recipient Generated
- ITO
- Joint Venture
- Just in Time
- Kaizen
- Keiretsu
- Key Account Manager
- Key Performance Indicator
- Knowledge
- Knowledge, Explicit
- Knowledge, Tacit
- KPI
- Lagging Indicators
- Last In, First Out
- LCL
- Lead Time
- Leading Indicators
- Lean Manufacturing
- Lean Supply
- Lean Thinking
- Learning Curve
- Lease, Finance
- Lease, Operating
- Leasing
- Less than Container Load
- Letter of Credit
- Letter of Intent
- Leverage
- Liabilities, Current
- Liability
- Licensing
- Life Cycle, Product
- LIFO
- Liquidated damages
- Logic
- Logistics
- Logistics, Inbound
- Logistics, Outbound
- Logistics, Pull
- Logistics, Push
- Logistics, Reverse
- Lot Size
- Low Cost Country Sourcing
- Low Value Purchases
- Lump Sum
- Maintenance, Routine, Operating Categories
- Make or Buy
- Make to Order
- Make to Stock
- Managing Contractor
- Manifest
- Manufacturing Resource Planning
- Marginal Cost
- Market Analysis
- Market Concentration
- Market Distortion
- Market Engagement
- Market Failure
- Market, Life Cycle
- Market Maker
- Market Sharing
- Market Structure
- Market Testing
- Marketing
- Marketing, Reverse
- Materials, Direct
- Materials, Indirect
- Materials Requirements Planning
- Materials Safety Data Sheet
- Matrix Structure
- Maverick Purchasing
- Mean Time Before Failure
- Mean Time Before Unscheduled Removal
- Measurement of Benefits
- Measurement of Supplier Performance
- Merchantable Quality
- Metric
- Milestone
- Minimum service level
- Minor contract clause
- Misrepresentation
- Monopoly
- MRP
- MSDS
- MTBF
- MTBUR
- MTO
- MTS
- Muda
- Multi-dimensional KPIs
- Negotiation
- Negotiation Planning
- Negotiation, Post Offer
- Net Present Value
- Networking
- Noise
- NPV
- Number, European Article
- Objective, Negotiation
- Obsolescence
- Offer
- Offset
- Offshoring
- Oligopoly
- Online Catalogue
- Open Book Contract
- Opportunism
- Opportunity Analysis
- Opportunity Cost
- Order Acknowledgment
- Order, Cost of Raising
- Order, Purchase
- Outbound Logistics
- Output Specification
- Outsourcing
- Overhead Allocation
- Overhead Recovery
- Packaging Covenant
- Panel Arrangement
- Pareto Principle
- Partner
- Partnering
- Partnership
- Patent
- Payment Profile
- Penalty Clause
- Penetration Pricing
- Performance Based Contract
- Performance Bond
- Performance Indicators
- Performance Regime
- Performance Review
- Performance Specification
- Persuasion
- PEST Analysis
- Pipeline Stock
- Planning, Negotiation
- Planning, Procurement
- Porter's Five Forces
- Portfolio Analysis
- Post Offer Negotiation
- Power Users
- Pre-qualification
- Preferred Customer
- Preferred Supplier
- Price
- Price, Fixed
- Price Fixing
- Price Taker / Price Maker
- Price Variation Formula
- Pricing Strategy
- Pricing, Zero Based
- Probity
- Procurement
- Procurement Card
- Procurement Controls
- Procurement Planning,
- Profit
- Profit and Loss Statement
- Profit, Price and Cost Analysis
- Proposal
- Public Private Partnership
- Puffery
- Pull Logistics
- Purchase Order
- Purchase orders
- Purchase to pay system
- Purchases, Hazardous
- Purchasing
- Purchasing Card
- Push Logistics
- Quality
- Quality, Acceptable
- Question, Closed
- Question, Hypothetical
- Question, Leading
- Question, Open
- Question, Probing
- Questions, Multiple
- Quid Pro Quo
- Quotation
- RACI
- Radio-Frequency Identification
- Rate changes
- Ratio Analysis
- Ratio, Current
- Ratio, Liquidity
- Ratio, Management
- Ratio, Profitability
- Ratio, Solvency
- Rationalisation
- Rebate
- Receipt
- Receipt process
- Recipient Generated Invoice
- Reciprocal Trade
- Recycling
- Relationship, Commercial
- Remuneration
- Rental
- Reorder Level
- Repairable Part
- Representations, Pre-contractual
- Request for Information
- Request for Proposal
- Request for Quotation
- Request for Tender
- Requisition
- Residual risk
- Responsive Supply Chain
- Retendering
- Return on Capital
- Return on Investment
- Return on Net Assets
- Reverse Logistics
- Reverse Marketing
- RFI
- RFID
- RFP
- RFQ
- RFT
- RFx
- Risk
- Risk and Reward
- Risk management framework
- Road Map
- ROI
- Root Cause
- Root cause analysis
- Rotable Part
- Sanctions
- Savings
- Scenario Planning
- Schedule of Rates
- Scope creep
- Scope of Work
- Segment, UNSPSC
- Segmentation
- Selling, ‘Back door’
- Service Level
- Service Level Agreement
- Service standards
- Should-Cost Analysis
- Show Cause
- Six Sigma
- Small and Medium Sized Enterprises
- SME
- Social Enterprise
- Socially Responsible Procurement
- Sourcing
- Sourcing event
- Sourcing Strategy
- Specification
- Specification, Functional
- Specification, Input
- Specification, Performance
- Specification, Technical
- Specifications
- Spend Analysis
- Spend Cube
- Spend Leakage
- Spot Buying
- Stakeholder
- Stakeholder Analysis
- Stakeholder Management
- Standards
- Statement of Work
- Stock
- Stock, Allocated
- Stock, Available
- Stock, Buffer
- Stock, Carrying Cost
- Stock Check
- Stock, Consignment
- Stock Control
- Stock Location
- Stock, Pipeline
- Stock, Safety
- Stock Turn
- Strategy
- Structure
- Structure, Federal
- Structure, Organisational
- Structure, Work Breakdown
- Subject Matter Expert
- Substitution
- Superintendent
- Supplier
- Supplier Appraisal
- Supplier Development
- Supplier Evaluation
- Supplier, Preferred
- Supplier Rationalisation
- Supplier Relationship Management
- Supplier Tiering
- Supplier Visit
- Supplier's delivery team
- Supply Base Management
- Supply Base Reduction
- Supply Chain
- Supply Chain Management
- Sustainability
- Tacit Knowledge
- Tactics
- Take or Pay
- Tally
- Target
- Target Costing
- Target, Ideal
- Target Inventory Level
- Target, Just Accept
- Target, Realistic
- Target service level
- Tariff
- Team
- Team Charter
- Team, Cross Functional
- Technical Evaluation
- Technical Specification
- Tender
- Tender Bond
- Tender Evaluation
- Term, Implied
- Term, Promissory
- Termination for Convenience
- Termination of Contract
- Terms and Conditions
- Terms of Payment
- test
- Three Way Match
- Tiering Suppliers
- Time and Materials Contract
- Time Compression
- Title
- Total Absorption Costing
- Total cost models
- Total cost of opportunity
- Total cost of ownership
- Trade Discount
- Trade Mark
- Trade Practices Act
- Trade Terms
- Traditional Contracting
- Traditional risk matrix
- Training
- Transaction Cost Economics
- Transaction Costs
- Transformation
- Triple Bottom Line
- Trust
- Turn Around Time
- Turnkey Contract Model
- Two Stage Bidding
- Two Way Match
- Uberrimae fidei
- Ullage
- Ultimate Consumer
- Ultra vires
- Unascertained Goods
- Unauthorised
- Uncertainty
- Under Seal
- Unenforceable Contract
- Uniform Freight Classification
- Unilateral Contract
- Unit Load
- Unit of Measure
- Unit of Purchase
- Unit of Sale
- Unit Rate
- Unitisation
- Unliquidated Damages
- UNSPSC
- Unsuccessful Bidder
- Upstream
- Uptime
- Usage
- User complaints
- Utilisation
- Utility
- Validity
- Value
- Value Added
- Value Adds
- Value Analysis
- Value Chain
- Value Creation
- Value Engineering
- Value for Money
- Variable
- Variable Cost
- Variance
- Variation
- Variety Reduction
- Vendor
- Vendor Managed Inventory
- Vendor master data
- Vendor Rating
- Vertical Integration
- Void Agreement
- Volume Discount
- Volume Price Agreement
- Vulnerability
- Wait Time
- Waiver
- Walk Away Point
- Warehouse
- Warehouse, Bonded
- Warranty
- Waste
- Waybill
- Weighted Average Cost of Capital
- Weighted Factor Analysis
- Wet Lease
- Whole of Life Costing
- Wholesaler
- Win:Win
- Without Prejudice
- Work Breakdown Structure
- Work in Progress
- Work Instruction
- Work Order
- Write Down
- Yield
- Yield Management
- Zero Based Budgeting
- Zero Based Pricing
- Zero Defects
- Zero Inventory
- Zero Sum Game
- Zone
