In economic terms, deflation is a decrease in the general prices of goods and services and occurs when the inflation rate falls below 0%. Organisations often postpone expenditure under deflation, as materials will cost less in the future than they cost at that time.

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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.