A discount is a reduction in the listed or stated price of a good or service. Discounts can be applied to manufacturer’s list prices, trade or retail prices. There are many reasons for discounting, including to increase short-term sales, to move out-of-date stock or to reward valuable customers. Many list prices are deliberately inflated to allow participants in the supply chain to grant discounts so, for procurement practitioners the negotiation of a discount is less significant than the scale of that discount.
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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 procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
