Reducing cycle time is a key goal in many processes, but is especially relevant to supply chain management. Waiting for upstream processes is an example of waste, while reducing time to market can contribute to competitive advantage. Many stakeholders perceive that the procurement process takes too long, so the procurement process itself should be accelerated, for example by maintaining up-to-date market reviews so that, when an acquisition is initiated, information on the supply market is already available.« 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.