Objectives are the specific goals that you wish to achieve. Most authorities advocate setting a range of objectives, from the very best that you believe you might achieve through to the poorest deal that you just accept. Objectives should be defined in measurable terms: ‘to improve on the supplier’s tendered offer’ is a weak objective; ‘to achieve no less than 5% reduction in the bid price’ is a better objective. See also Negotiation.« 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.