Variety reduction involves reducing the number of different solutions used to fulfil the same need. When considering developing a procurement strategy for a new category, it is common to find that there is a variety of different standards and solutions employed across an organisation to fulfil broadly the same need. Similarly, when looking at the range of items held in stock, it may be that there is more than one line held in stock to meet the same need. Variety reduction involves engaging with stakeholders and identifying whether it is possible to reduce the number of different solutions. If one solution can apply across the organisation this would involve standardisation. See also Rationalisation.
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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.
