Innovation refers to the creation of new products, technologies, processes and/or ideas that are thought to be better or more effective by the innovator. Most organisations value their suppliers as potential sources of innovation and so the procurement process should facilitate the legitimate transfer of ideas from suppliers to the buyer. Similarly, when outsourcing or sourcing internationally, careful consideration should be given to the transfer of technology to sub-contractors who may become competitors.« Back to Glossary Index
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.