Procurement Terms and Definitions can be challenging

No worries

This glossary defines the most common definitions and terms in procurement.

ABC

AI in Procurement Software
Best spend analytics software
Bill of material BOM
Blanked Purchase Order
Buyer
Commodity Price
Cost Modeling
Cost analysis in procurement
Cost avoidance
Cost reductions
Cost savings tracking software
Credit note

DEF

Decentralized procurement
Digitalization
Direct Procurement
E-procurement software solutions
Enterprise resource planning ERP
Escalation clause
Exchange rate
Force majeure
Forecasting in procurement

GHI

Incoterms
Index pricing

JKL

Landed costs
Life cycle costs
Linear pricing

MNO

Market intelligence
Negotiation
Original equipment manufacturer OEM
Outsourcing

PQR

Payment terms
Predictive analytics in procurement
Procure to pay automation
Procure to pay software solutions
Procurement analytics software solutions
Procurement automation software
Procurement intelligence software
Procurement management system
Procurement management tools
Procurement risk analysis
Procurement savings tracker
Procurement software
Procurement spend analysis
Procurement technology solutions
Purchase to pay automation
Risk management in procurement

STU

Spend analytics software
Strategic sourcing software
Supplier management software
Sustainable supply chain management

VWX

No items found.

YZ

No items found.

Want to know more

about our procurement solution?

Our privacy policy applies.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Let us show you how ivoflow can support your business. We are ready to showcase our procurement management system. Together we will find the perfect solution for your company. Feel free to give us a call or e-mail us today!