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IT service management & procurement

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

  • Supplier performance management (SPM) - Supplier performance management (SPM) is a blanket term for any business practice that is designed to manage, measure and analyze the performance of a supplier or suppliers in a network.
  • supplier relationship management (SRM) - Supplier relationship management (SRM) is the systematic approach to evaluating vendors that supply goods, materials and services to an organization, determining each supplier's contribution to success and developing strategies to improve their performance.
  • supplier risk management - Supplier risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings that are caused by the organization's supply chain.
  • supply chain - A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product.
  • supply chain execution (SCE) - Supply chain execution (SCE) is the flow of tasks involved in the supply chain, such as order fulfilment, procurement, warehousing and transporting.
  • supply chain management (SCM) - Supply chain management (SCM) is the optimization of a product's creation and flow from raw material sourcing to production, logistics and delivery to the final customer.
  • supply chain risk management (SCRM) - Supply chain risks include cost volatility, material shortages, supplier financial issues and disasters.
  • sustainable procurement - Sustainable procurement is the meeting of business needs for materials, goods, utilities and services in an environmentally-friendly, responsible and ethical way.
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