Procurement Glossary & Terminologies

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Accounts payable (AP)

Accounts Payable Automation

Accounts receivable (AR)

Acquisition Cost

Agile Reporting

B

Best and final offer (BAFO)

Bid

Bill of materials (BOM)

Breach of Contract

C

Capital Expenditure (CAPEX)

Cash flow statement

Category Management

Centralised procurement

Competitive bidding

Contract Audit

Contract Compliance

Contract lifecycle management

Contract Management

Contract Renewal

Contract Termination Lifecycle Management

Cost modelling

D

Decentralised procurement

E

F

Fair market value

Financial Savings Management

Financial Supply Chain Management

Finished goods

Fixed price

Forward auctions

Fourth-Party Logistics (4PL)

G

Group purchasing organisation (GPO)

I

J

Japanese Auction

K

Key performance indicators (KPIs)

L

M

Maintenance, Repair and Operations (MRO)

Master Service Agreement (MSA)

Material Requirements Planning (MRP)

Maverick Spend

O

Original Equipment Manufacturer (OEM)

P

Procure-to-pay (P2P)

Procurement Optimisation

Procurement Software

R

Reverse Auction

S

T

Tail Spend

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