AJAX progress indicator
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  • a

  • Absorption CostingAbsorption costing is a model of accounting cost that necessitates the total cost of achieving the end product from production processes.
  • Absorptive CapacityAbsorptive capacity refers to criterion an enterprise incorporates to enforce current trends in improving the overall organizational performance.
  • AcceptabilityAcceptability is the assessment of an organizational strategy to determine its efficiency in satisfying the needs and requirements of the shareholders.
  • Acceptance CriteriaAcceptance criteria entails requirements that govern the declaration of completion of a project by a client.
  • Accounts PayableAccounts payable is a liability account that indicates the monetary value a firm owes its suppliers regarding business expenses, such as costs for acquiring production raw materials.
  • Accounts Payable AutomationAccounts payable automation refers to the utilization of modern technology in performing account payable calculations with minimal human involvement, eliminating minor errors in the process.
  • Accounts ReceivableAccounts receivable is the money billed to a company for products and services, but the customers still hold the money.
  • AcquisitionAcquisition is the act of acquiring ownership of another enterprise
  • Acquisition CostAcquisition cost entails an enterprise's expenses to purchase assets, such as shipping costs.
  • Active External IntegrationActive external integration refers to collaboration of supply chain components to coordinate the activities.
  • Active Internal IntegrationActive internal integration is the approach of inter-functional collaboration to monitor an organization's functional areas.
  • ActivitiesActivities refers to things performed regarding company operations.
  • Activity-Based CostingActivity-based costing is a cost accounting system that directs the allocation of overheads and subsidiary costs to various goods and services.
  • Ad-Hoc PurchaseAd-hoc purchase is an incident when a product is obtained for one-use off.
  • AdaptabilityAdaptability refers to adjustment of supply chain processes to adapt to changes.
  • Added ValueAdded Value refers to additional features that are availing to the customers for increased sales.
  • Addressability Of SpendAddressability of spend refers to spend impacted by control of the functions of Procurement.
  • Advance PaymentAdvance payment refers to amount paid before receiving a good or service.
  • Advanced Quality PlanningAdvanced quality planning refers to designing products and their production processes for quality purposes.
  • After-the-fact purchase orderAfter-the-fact purchase order include the procurement services monitor purchase orders; therefore, after-the-fact purchase orders occur when a purchasing demand is made before the procurement department releases the order.
  • Agile ProcurementAgile Procurement entails a flexible and advanced procurement model characterized by new ideas and new approaches; for example, speed and time are key factors during the sourcing process.
  • Agile Spend ManagementAgile spend management is a concept organizations apply to minimize the expenses of doing business through the application of techniques of transparency in data management and accurate-time data scrutiny.
  • AgilityAgility is ability to adjust quickly to changes
  • AmortizationAmortization is an act of setting cost for assets
  • Annual PlanningAnnual planning cycle refers to the procedure of outlining the business roadmap for an organization and its employees.
  • AppraisalsAppraisals refers to valuation of products to set price.
  • Approved Supplier ListApproved supplier list is an act of assigning a task to qualified suppliers.
  • As a ServiceAs a service refers to a shift from traditional possession methods to modern ownership models of providing services.
  • As-is analysisAs-is analysis is the valuation of current business procedures.
  • AssetsAssets entails all the items owned by a company.
  • Available To PromiseAvailable to promise is the provision of information about delivery dates by a business to its clients.
  • Average Rate of ReturnAverage rate of return is the average annual amount of cash flow for investment.
  • b

  • BackhaulBackhaul is when the transporting department transports luggage on its way back to its original destination.
  • BackorderBackorder refers to the return of products after being out of stock temporarily.
  • Backward IntegrationBackward integration entails business transactions of buying entity to acquire raw materials from its suppliers
  • BackwardationBackwardation is depreciation of product costs in future
  • BailmentBailment entails business dealings between Bailee and bailor
  • Balance SheetBalance sheet refers to recordings of liabilities and assets of an organization
  • Balanced ScorecardBalanced scorecard is a strategic tool utilized to increase the overall organizational performance
  • Balloon PaymentBalloon payment is the settlement of the remaining loan amount
  • Bargaining MixBargaining mix refers to efforts to achieve negotiation of various concerns
  • Bargaining PowerBargaining power is an attempt of parties to interact to secure an agreement
  • Base Year BaselineBase year baseline is the point of initial growth
  • BatchingBatching refer to similar grouping
  • BenchmarkingBenchmarking it is comparing rudiments of business
  • Best and Final OrderBest and final offer it is the final fixed product price
  • BidBid act of showing interest
  • Bid RiggingBid rigging refers to dishonesty practices in a bid
  • Bill of Materials (BOM)Bill of Materials refers to recordings of requirements of creating an end-user product
  • Bottleneck ItemBottleneck item refers to products experiencing low supply rates
  • Bottom LineBottom line is the most significant aspect of financial statements.
  • Breach Of ContractBreach of contract is non-compliance with agreement contract
  • Business Process OutsourcingBusiness process outsourcing refers to acquisition of success metrics
  • Business-to-BusinessBusiness-to-business refers to transactions between various businesses
  • Business TransformationBusiness transformation is implementation of changes
  • Business UnitBusiness unit refers to segmentation of business corporation
  • BuyerBuyer refers to individuals or organizations that aid in the continuity of business through purchases.
  • c

  • Call For CompetitionCall for competition, refers to creating awareness to suppliers of emerging competition in the market.
  • Call OffCall off is cancelling of purchase of products.
  • Call Off ContractCall off contract refers to agreement to cancel a purchase of products.
  • Capital AssetsCapital assets refers to fixed assets
  • Capital CostCapital cost refers to expenses incurred in the purchase of an asset
  • Capital PurchasesCapital purchases entails money used by an organization to make a substantial investment
  • Capital RequirementsCapital requirements refers to necessities to create new business ventures.
  • Capital ResourcesCapital resources refers to funds that be used for business activities such as investment
  • CartelsCartels is the bargain to perform anti-competitive undertakings
  • CentralizedCentralized is concentration of activities in one destination
  • Centralized Decision MakingCentralized decision-making aspect of control of the top management in an organization
  • Centralized ProcurementCentralized Procurement is the process which trusts the corporate level to manage the organization's decisions and operations.
  • Chief Procurement OfficerChief procurement officer is the leader of the organization's business activities
  • Closing StockClosing stock is the account arrived at the end of the accounting period
  • Collaborative ProcurementCollaborative procurement is cooperation of procurement components
  • Common Procurement Vocabulary CodesCommon procurement vocabulary codes is categorization of procurement products and services
  • Competitive DialogueCompetitive dialogue is attainment of information by buying organization from suppliers for defined solutions.
  • Compliance In ProcurementCompliance in procurement is adherence to organization spending management
  • ConsumerConsumer is an individual who consumes goods and services.
  • Consumer MarketsConsumer markets refers to place individuals' access to goods and services
  • d

  • DamagesDamages refers to monetary benefit due to disruption of the agreement in the contract
  • DashboardDashboard is a platform for showing the progress of business components
  • DataData refers to stored information for reference
  • Data IntegrationData integration is the process of bringing together facts from different sources.
  • Data WarehouseData warehouse is a place where data is kept.
  • Decentralized ProcurementDecentralized Procurement is a type of procurement that allows all business components to be involved in business decision-making and management.
  • Delegation EvolutionDelegation evolution refers to management of the organization by all top management members
  • DeliverableDeliverable is created good or service
  • Demand Flow ManufacturingDemand flow manufacturing refers to creation of products on demand
  • Devolved ProcurementDevolved Procurement is a way of dispersing business activities to other teams
  • Digitalization Of Procurement and SupplyDigitalization of procurement and supply refers to use of technology to modify procurement procedures and processes.
  • Direct ProcurementDirect procurement refers to procurement of materials that form part of the finished good or service.
  • e

  • E-CommerceE-commerce refers to conducting of business through online platforms
  • Early Market AdvantageEarly market advantage refers to situation of outperforming competitors in the marketplace
  • Early Supply InvolvementEarly supply involvement refers to supplier participation in the manufacturing process
  • EBITDAEBITDA is assessment of the organization's financial performance
  • Economic Value-AddedEconomic value-added refers to benefits a company acquires from business dealings
  • Economies Of ScaleEconomies of scale entail cost advantage a company experiences in achieving success
  • Enterprise Resource PlanningEnterprise resource planning refers to software for regulating and monitoring business activities
  • eProcurementeProcurement is the process of acquiring products through social media.
  • eSourcingeSourcing is the use of an online platform to obtain bids from suppliers.
  • eTenderingeTendering refers to use of online services for procurement purposes
  • Exchange RateExchange Rate refers to value indicated by a currency in comparison to another
  • f

  • Facilitation PaymentFacilitation payment is paying money to acquire services easily.
  • Fair MarketFair market refers to value is an acceptable price by the buyer and the seller.
  • Financial YearFinancial year is a year characterized by financial computations.
  • Finished GoodsFinished goods refers to products ready for consumption
  • First In, First Outfirst in, first out refers to a method that requires assets acquired first to be disposed of first.
  • Fixed AssetsFixed assets are items that are not easily convertible into monetary value.
  • Fixed PriceFixed price is the unchangeable price.
  • FlowFlow is movement of goods from one place to another
  • Forecasting In ProcurementForecasting in Procurement refers to predicting by analyzing past and current information.
  • Forward RateForward rate refers to assessing anticipated financial concerns.
  • FuctionsFunctions refers to intention of a good or a service
  • Functional UnitFunctional unit refers to assessment of product efficiency
  • g

  • Gap AnalysisGap analysis is the assessment of achievements and targets
  • GATTGATT refers to agreement to provide protectionism.
  • GearingGearing refers to evaluation of finance in a company
  • Global GovernanceGlobal governance refers to dependent on government intervention in decision making
  • Global LogisticsGlobal logistics is a process of controlling stages of the supply chain.
  • Global SourcingGlobal sourcing refers to buying products and services abroad.
  • Green ProcurementGreen procurement refers to maintenance of sustainable Procurement to protect the environment.
  • Green TransportationGreen transportation aspect attributed to improvement in transport.
  • GRNGRN (goods received note) is a document indicating delivery of products.
  • Growth StrategyGrowth strategy is a scheme to dominate a diverse market share.
  • GuanxiGuanxi refers to business relationships between different parties.
  • GuaranteeGuarantee refers to agreement between buyer and seller regarding refund, replacement and repair of a product before satisfying the buyer.
  • h

  • HandlingHandling act of managing operations
  • Hard ManagementHard management is attempt control to maintain the quality of products and services
  • Hard MeasuresHard measures entail fiscal aftermath resulting from previous decisions
  • Hazard AspectHazard aspect that means dangerous
  • Head ContractHead contract refers to agreement between business and end customers to provide goods or services.
  • Heads Of TermsHeads of terms refers to document proving agreement of parties on business dealings
  • Health and SafetyHealth and safety is protection of stakeholders from illnesses and adverse environmental conditions.
  • HedgingHedging is approach to preventing risks of financial uncertainties.
  • HireHire refers to temporary ownership of ownership at a fee
  • Hold Harmless AgreementHold harmless agreement is an act of protecting a party from incurring risks caused by another party.
  • Horizontal AlignmentHorizontal alignment is setting regulations for parties sharing similar hierarchical levels.
  • Horizontal CollaborationHorizontal collaboration is a cooperation between firms of the same categorization to work together and acquire corresponding benefits.
  • Hostile BidHostile bid refers to presentation of bids directly to the target organization's shareholders due to mismanagement.
  • Human ResourceHuman resource refers to organizational personnel.
  • Human Resource PlanningHuman resource planning is management of employee concerns such as employing people and offering training.
  • Hybrid strategiesHybrid strategies refers to integration of more than one strategies.
  • i

  • ImmobileImmobile refers to fixed characteristics of an organization.
  • ImpactImpact is outcome of risk and disruption on supply chains.
  • Imperfect CompetitionImperfect competition refers to domination of the market by the powerful supplier.
  • Implementing StrategyImplementing strategy is execution of set plans to achieve a set goal.
  • Import BarriersImport barriers refers to obstacles that hinder market entry
  • Import DutiesImport duties refers to charges incurred for importing from other countries.
  • ImportsImports refers to commodities from other countries
  • In TransitIn transit is transportation of goods from one location to another.
  • IncentiveIncentive is concession to encourage completion of an activity.
  • Income StatementIncome statement is a financial account that shows organizational performance for a given period.
  • IndemnityIndemnity refers to compensation to protect individual or business from loss
  • Independent ProcurementIndependent Procurement entails carrying out procurement activities without control.
  • Indirect ProcurementIndirect procurement refers to buying of items to keep the continuity of daily business.
  • InflationInflation is decrease or increase in product prices
  • InformationInformation refers to facts provided to inform about something
  • InnovationInnovation is implementation of change in business using new approaches.
  • InsourceInsource is accomplishing a previous function activity that was temporarily out of service.
  • Integrated LogisticsIntegrated logistics refers to business model for providing delivery and satisfying customer needs.
  • j

  • Japanese AuctionJapanese auction is restricting suppliers from placing bids
  • Job DesignJob design refers to arrangement of individual duties to be performed.
  • Job SatisfactionJob satisfaction is fulfilment of job expectation.
  • Job Shop LayoutJob shop layout is classification of similar resources
  • Joint TeamJoint team charter is collaboration of team members
  • Jurisdiction Refers CharterJurisdiction refers to power to legal authority
  • Just In CaseJust in case refers to increased production to cater for an abrupt rise in demand
  • Just In TimeJust in time, refers to timely distribution of goods and services by suppliers.
  • k

  • Key Performance IndicatorsKey performance indicators are a critical tool for testing the overall performance of a company.
  • Key Risk IndicatorsKey risk indicators refers to metrics for determining the probability of occurrence of a risk. Organizational decisions primarily influence key stakeholders' elements.
  • Knowing-In-actionKnowing-in-action refers to comprehension of the procedural process of carrying out certain activities
  • KnowledgeKnowledge is awareness of skills to handle certain situations.
  • Knowledge CapitalKnowledge capital (information capital) is the possession of skills to apply in an organization to achieve goals and objectives.
  • KPI MonitoringKPI monitoring refers to measurement of organizational performances
  • Kraljic MatrixKraljic matrix is approach of evaluating and understanding the procuring portfolio to direct the procurement strategy.
  • l

  • Labour-IntensiveLabour-intensive is the utilization of increased human workforce.
  • LaggardsLaggards are individuals who avoid new products and advanced technology.
  • Last MileLast mile is the ultimate stage in the supply chain
  • Lead TimeLead time is time consumed from the manufacturing process to the end.
  • LeadershipLeadership refers to directing and motivating stakeholders to achieve organizational and personal goals.
  • Lean ManufacturingLean manufacturing refers to minimization of increased waste
  • Lean supply chainLean supply chain refers to efficient supply chain serving consumers
  • LocalizationLocalization entails performing business activities in the local markets.
  • LogisticsLogistics refers to controlling the acquisition of raw materials, storage and distribution of finished products to the final destination
  • Logistics ManagementLogistics management is the way of coordinating supply chain activities which are integrated from production to end product.
  • LucrativeLucrative is characterized by massive profits.
  • m

  • Macro EnvironmentMacro environment refers to factors outside an organization influence the success of the organization.
  • Major BreachMajor breach refers to act of interfering with the continuity of a contract.
  • Make Or BuyMake or buy refers to valuation of goods and services organizations plans to manufacture and represent to the marketplace.
  • Management AccountsManagement accounts is provision of information about financial transactions for a set period.
  • MarginMargin refers to attempt to serve consumers goods and services with low-profit rates as a percentage of total sales.
  • Market SensitivityMarket sensitivity refers to influences the market encounters from environmental trends, for example, current fluctuation in market volatility.
  • Market ShareMarket share is the proportion of the market an organization can serve.
  • Mass ProductionMass production refers to manufacturing of bulk products
  • MeasureMeasure refers to estimate
  • MetricsMetrics is assessment of to what extent an organization performs.
  • Minimum OrderMinimum order refers to quantity is the number of products a supplier can handle
  • Minimum PricingMinimum pricing refers to setting of the least possible price for products and services.
  • Minimum WageMinimum wage is the set salaries by-laws to be paid to employees
  • MitigateMitigate refers to termination of a contract
  • Modern SlaveryModern slavery refers to forced labour
  • Money LaunderingMoney laundering disguises the source of money obtained illegally, for example, through investing in another field.
  • MotivationMotivation refers to encouragement to perform a certain activity by either internal or external factors.
  • MROMaintenance, repair, and operating products refers to process to ensure the success of the manufacturing process by controlling overhead costs.
  • Multinational OrganizationsMultinational organizations entail firms investing or operating overseas.
  • Multiple SourcingMultiple sourcing refers to acquiring raw materials from various sources.
  • n

  • Named DestinationNamed destination refers to target market, which acts as the final destination of finished products
  • NearshoringNearshoring refers to transferring operational processes to foreign countries based on geographical Borders
  • Negotiated TenderingNegotiated tendering, is the act of contacting a few suppliers for business dealings.
  • Negotiation RefersNegotiation refers to attempts of buyers and sellers to reach an agreement, especially in the marketing process.
  • Net ProfitNet profit is the total money an organization holds after expense deductions.
  • Net ValueNet value refers to assets amount is arrived at after subtracting the value of liabilities from total assets.
  • Network ManagementNetwork management refers to provision of a friendly environment to encourage collaboration among the network team members.
  • Network SourcingNetwork sourcing refers to availability of more than one source for a specific product
  • Network TeamNetwork team refers to members behind the success of an organization.
  • New BuyNew buy refers to sourcing products for the first time.
  • New Product DevelopmentNew product development refers to use of new ideas and features to create a product
  • NicheNiche refers to market concentration of a product
  • Non-ConformityNon-conformity refers to unsatisfying features.
  • Notice Of CancellationNotice of cancellation refers to creation of awareness for termination of an agreement
  • o

  • ObjectiveObjective refers to aim of performing an activity.
  • Offer DocumentOffer document refers to invitation with information to allow a buyer to make a purchase offer.
  • Offshoring Offtake AgreementOffshoring offtake agreement refers to bargain between producers and customers to buy his products
  • Omni-ChannelOmni-channel refers to a model that allows customers to access goods and services easily.
  • On CostOn cost, refers to an additional expense.
  • OnboardingOnboarding refers to procedural process of introducing and familiarizing organizational products and services to new clients.
  • Online TransactionsOnline transactions are payment of goods and services using online services
  • Open Book CostingOpen book costing is revealing buyers' and suppliers' costs and expected profits
  • Open Tender ProcedureOpen tender procedure refers to opportunity for suppliers to place bids
  • Operating Supplier RelationshipOperating supplier relationship refers to interactions between buyers and suppliers for successful business dealings.
  • Order Tracking SyatemOrder tracking system refers to retrieval of information regarding a product
  • OutsourcingOutsourcing refers to delivering goods and services through suppliers
  • Overhead CostsOverhead costs refer to other expenses rather than production and distribution costs
  • OvertradingOvertrading refers to increased processes of buying and selling, inconveniencing the company functions.
  • p

  • Pain/Gain Share MechanismPain/gain share mechanism is mechanism that requires parties to share both gains and losses
  • PandemicPandemic refers to disruption that affects the business operations
  • Paradigm Of Working EnvironmentParadigm of the working environment refers to alignment of business activities in an organization based on a provision of a better understanding
  • Participatory InnovationParticipatory innovation refers to integration of ideas contributed by stakeholders in an organization.
  • Partnership CollaborationPartnership collaboration is cooperation of more than one organization for mutual benefits
  • Partnership SourcingPartnership sourcing refers to agreement with suppliers for contract purposes.
  • PaymentPayment refers to compensation for work done.
  • Penetration PricingPenetration pricing refers to approach of charging low prices to gain market share.
  • Perfect OrderPerfect order refers to orders without minor and major errors.
  • PerformancePerformance is term describing the expectation of fulfilling a task
  • Performance AppraisalPerformance appraisal refers to assessment of the execution of a plan.
  • PlanningPlanning refers to establishing a sequence of activities to guide a process
  • Procurement ActivityProcurement activity is mechanism of providing insights of organizational plans
  • Procurement PolicyProcurement policy refers to regulations for monitoring procurement activities in
  • Procurement ProceduresProcurement procedures entail processes demonstrating how to perform procurement tasks.
  • Procurement RouteProcurement route refers to directory of procurement activities
  • Procurement StrategyProcurement strategy refers to approaches to achieving organizational goals and objectives
  • Procurement TeamProcurement team refers to members responsible for carrying out procurement activities and management.
  • Procurement TransformationProcurement transformation is implementation of changes to improve performance.
  • ProductivityProductivity refers to comparison of products produced and inputs for the production process
  • ProductsProducts are tangible substances that satisfy customer needs.
  • Pure CompetitionPure Competition refers to increased competition in the open market
  • q

  • Quality AuditingQuality auditing refers to reviewing products to ensure adherence to the required standards.
  • Quality ControlQuality control refers to analyzation of goods and services to identify defects
  • r

  • RACIRACI is a tool to provide efficiency in a project since it is characterized by responsibility, accountability, consultation and informing
  • Raw MaterialsRaw materials refers to resources for creating a product
  • Recoverable ManufacturingRecoverable manufacturing is act of reusing resources to produce other products.
  • RemanufacturingRemanufacturing refers to process of adding quality to a product.
  • Resource Based ViewResource Based view is theory for utilizing the available resources to enhance production.
  • Resource LevellingResource Levelling refers to adapting to changes in demand and supply
  • Responsible ProcurementResponsible Procurement, is making purchasing decisions in consideration of sustainability and ethics.
  • Restricted MarketplaceRestricted marketplace refers to market with few sellers
  • Reverse LogisticsReverse logistics refers to activities to match customer requirements with the products.
  • s

  • Sales GrowthSales growth is increment of overall sales compared to previous production periods.
  • Sales MixSales mix refers to fixing different prices for different products.
  • Sales RevenueSales revenue is the monetary value acquired through the sale of products and services.
  • Saturation PointSaturation point is stage whereby suppliers are restricted from entering the market.
  • SegmentationSegmentation is grouping market according to preferences.
  • Single SourcingSingle sourcing is acquiring supplier from one supplier.
  • Source-to-ContractSource-to-contract is a method procurement utilizes to develop value in the business enterprise.
  • SourcingSourcing is accessing the market for lower purchase prices and viable suppliers.
  • Strategic SupplierStrategic supplier is a supplier capable of achieving a competitive edge.
  • Sustainable ProcurementSustainable procurement refers to utilization of corporate social responsibility in Procurement.
  • t

  • Tactical SourcingTactical sourcing refers to responsible sourcing to avoid risks
  • Takt TimeTakt time refers to adequate production to meet consumer demands
  • TechnologyTechnology is the application of scientific knowledge for practical purposes, especially in industry. It includes the use of machines, tools and techniques to achieve a specific goal or result.
  • TenderingTendering is process of deciding on the best bidder for a contract
  • The Barrier to EntryThe barrier to entry refers to hindrances to entry
  • The FungibleThe fungible is aspect of similarity of items
  • The Kitting TechniqueThe kitting technique is selecting and separating items to be used with those retained.
  • u

  • User-Based ApproachUser-based approach is process of encouraging better understanding of development processes by users.
  • Utilization RefersUtilization refers to proper use of available resources.
  • v

  • ValuationValuation is testing the accuracy of something
  • Value ChainValue chain is a series of processes that direct the creation of end-user products.
  • w

  • WarehousingWarehousing refers to keeping products safely
  • Win-WinWin-win refers to situation of mutual gain between the negotiating parties.
  • Work CentreWork Centre refers to location of performing production operations.
  • z

  • Zero DefectsZero defects refers to elimination of errors in production processes.
  • ZoningZoning refers to regulation of production departments by country laws.

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