Information can be defined as structured data. For example, a list of all purchase orders is raw data. The list is then sorted by supplier, to provide meaning over and above the raw data, by revealing patterns. Typically there will be many suppliers having received only a few purchase orders. That information could be a factor in a decision to reduce the supply base. There may also be suppliers who have received multiple purchase orders, and that information may be a factor in a decision to change the method of purchase, perhaps to a procurement card.
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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.
