Benefits are positive outcomes from the procurement process apart from financial savings. There is some consensus about categorising different types of savings, such as cash-releasing savings and cost avoidance, but there is little agreement on defining or measuring other positive outcomes from procurement. Examples of benefits other than financial savings include reduction in risk, reduced time to market and preferential access to supply. See also Savings and Value Adds.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
