Sourcing and Procurement
Glossary
Your trusted guide to exploring sourcing and procurement terms & definitions,
from the world’s leading procurement experts and companies
Workforce Analysis
Data from manual, robotic and existing systems that provides a view what resources are working on and for how long.
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Workload Allocation
A Vested term that describes maximum integration (management and visibility) of the entire business process effectiveness. The organization and service provider work together to optimize the end-to-end process rather than focusing on process effectiveness specific to the internal company.
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World Bank
A group of five financial organizations whose purpose is economic development and the elimination of poverty.
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Zero-Sum Games
Associated with Game Theory. A situation in which one person's gain is equivalent to another's loss, so the net change in wealth or benefit is zero. A zero-sum game may have as few as two players, or millions of participants.
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annus mirabillis
a year regarded as pivotal, crucial, etc.; a year notable for disasters or wonders; a fateful year.
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e-Tendering
An electronic document that describes a business transaction to be performed; a bid or offer.
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Working capital
Capital of a business that is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities
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Workscope
A generic term used to define the work that a supplier will perform under a contract. Workscope is often defined as a combination of type of work (activities, output, outcomes) and breadth of work (geography, business units). Organizations typically define workscope in a formal Statement of Work or a Performance Work Statement.
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Write Operation
A write operation is the action of inputting data into a specified field, determined by the element attributes of the specified field.
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Zero-sum game
A zero-sum game is an interaction where every gain by one person is an equal loss to the other, so the net gain (the total of the benefits to both parties) is zero
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nullius in verba
Take nobody's word for it, nothing upon anothers word. Literally means on the words of no one. It is the motto of the Royal Society of London, the national academy of science.
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