Sourcing and Procurement
Glossary
Your trusted guide to exploring sourcing and procurement terms & definitions,
from the world’s leading procurement experts and companies
IPO
Initial Public Offering refers to the first public offer of common stock of a particular company.
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ISO 14001
This sets out the international standards for an environmental management system
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ISO 9000
A comprehensive set of process and procedure quality management standards developed by the international Standards Organization. Suppliers selling to firms that have adopted ISO 9000 standards must produce their products using processes and methodologies that employ the quality management standards specified by ISO 9000.
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IT
Information Technology usually refers to the department that handles computer operations.
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ITO
Information Technology Outsourcing or ITO is a company's outsourcing of technology based work to other companies. The most common forms of ITO are programming, software development and maintenance.
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Imperfect competition
A market structure where many companies are competing but each is selling a slightly different product
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ISO (International Organization for Standardization)
Mostly known as ISO 9001. It is an international standard that gives requirements for an organization's quality management system (QMS). It is the family of standards published by the International Organization for Standardization (ISO) often referred to collectively as the "ISO 9000 series " or " ISO 9000 family ". These standards help to improve quality and minimize problems with products and services, reduce waste, improve customer service and implement continuous improvement in operations.
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ISO 26000
This is the international standard developed to help organisations in selecting and addressing their social responsibilities
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ISO 9001
ISO 9001 is a document describing the requirements an organisation must fulfill to meet the ISO 9000 standards
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Implementation Strategy
The specific plan of action to pursue in order to achieve the cost savings opportunities identified in the business case, specific strategies include incumbent supplier(s) strategy, Request for Proposal, preferred supplier relationship, etc.
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