Sourcing and Procurement
Glossary
Your trusted guide to exploring sourcing and procurement terms & definitions,
from the world’s leading procurement experts and companies
Team Charter
A team charter is created by the category team to outline and align objectives, roles and expectations. The team charter drives accountability and ensures action plans are defined and tracked.
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Technical specification
The technical properties and characteristics of a good or service as well as the activities to be performed by the supplier.
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Technology chasm
The gap between the early adopters and larger market segments such as early majority in a product life cycle
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Tender
A request from a buying organisation to invite suppliers to formally quote on a large value project
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Termination for Cause
A type of contract termination that occurs when a party breaches the agreement.
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Terms and Conditions
A phrase generally applied to the rules under which all bids must be submitted and the stipulations included in most contracts. Contains terms and clauses for delivering the contracted goods or services, managing the contract performance and exiting the contract. Often referred to as "Ts and Cs".
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Technical (or conformance) specification
The set of standards that a requirement must meet or exceed
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Telematics
Information technology dealing with the long-distance transmission of computerised information
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Termination for Convenience
A type of contract termination that occurs when a party terminates the agreement without a corresponding breach by the other party.
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Tertiary sector
The third stage of the production and manufacturing process, where a service is delivered in industries, e.g., banking, communications and marketing
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