Vertical integration refers to the common ownership of participants in the same supply chain. An example would be a steel mill that acquires a mine that supplied the mill with iron ore. Integration may be forwards or backwards. The steel mill acquiring the mine is an example of backwards integration; if the steel mill acquired a steel distributor it would be an example of forward integration. See also Integration, Backward.« 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.