IT service management & procurement
Terms related to the activities and procedures necessary to acquire information technology (IT) products and services.- value chain - A value chain is a concept describing the full chain of a business's activities in the creation of a product or service -- from the initial reception of materials all the way through its delivery to market, and everything in between.
- value-added reseller (VAR) - A value-added reseller (VAR) is a company that resells software, hardware, and other products and services that provide value beyond the original order fulfillment.
- vendor - A vendor is an individual or company that sells goods or services to somone else in the economic production chain.
- vendor management system (VMS) - A vendor management system (VMS) is an enterprise software platform that allows companies to control the process of procuring and managing a flexible workforce, including temporary employees, statement-of-work (SOW) employees, and freelance or contract employees.
- vendor-managed inventory (VMI) - Vendor-managed inventory (VMI) is an inventory management technique in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor.