In game theory, a zero sum game is when one player ‘wins’ only when the other player ‘loses’. For example, if the seller offers to sell a machine at a price of $1000 and the buyer aims to buy the machine for $800, there will be a ‘win:lose’ outcome. Every dollar the buyer ‘wins’ represents an equivalent ‘loss’ for the seller. If, alternatively, the parties agree a price of $900 and a three-year support contract of $100 a year, value has been created for both parties and may be considered a ‘win:win’ outcome. See also Win:Win.
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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 procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
