Browse Definitions :

IT service management & procurement

Terms related to the activities and procedures necessary to acquire information technology (IT) products and services.

  • 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.
ULT - VCI
VIS - VSP
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