Browse Definitions :

IT service management & procurement

Terms related to the activities and procedures necessary to acquire information technology (IT) products and services.

ABC - PRI

  • ABC analysis (Pareto analysis) - ABC analysis, also known as Pareto analysis, is a method used to categorize something according to its importance or value in a given context.
  • ABC costing (activity-based costing) - Activity-based costing (ABC) costing is a supplemental method of analysing product cost through assessing the costs of all business activities associated with production.
  • accountability - Accountability means being held responsible or answerable for one's actions (or perhaps lack of action where one should have been taken).
  • acquisition plan - An acquisition plan, in the context of procurement, is a business document specifying all relevant considerations for the processes involved with acquiring goods, services or other organizations.
  • advanced shipping notice (ASN) - Advanced shipping notice (ASN) is a document that provides detailed information about a pending delivery.
  • Alibaba Holding Group Limited - Alibaba Group Holding Limited is a Chinese business conglomerate that runs the world’s largest retailer and one of the largest online e-commerce sites in the world, Alibaba.
  • Apple Authorized Service Provider (Apple AASP) - An Apple Authorized Service Provider (AASP) is a business that provides repair services for Apple products.
  • application rationalization (AR) - Application rationalization is the process of identifying which business applications should be kept, replaced, retired or consolidated across an organization to improve business operations.
  • authorized service provider (ASP) - An authorized service provider (ASP) is an organization that a product manufacturer has deemed qualified to service products covered under the manufacturer's warranty.
  • automotive IT - Automotive IT is any hardware or software designed to augment and support the experience of operating a motor vehicle.
  • backdoor selling - Backdoor selling is the unscrupulous practice of seeking information beyond what is publicly available as a means of gaining a competitive advantage for a contract or sale.
  • best and final offer - For negotiated procurements, a contractor's final offer following the conclusion of discussions.
  • bill of lading (BoL, B/L) - A bill of lading (also seen as B/L and BoL) is a document given to a shipper by the carrier that details the shipment and serves as a means of transferring the title of goods.
  • bill of materials (BOM) - A bill of materials (BOM) is a comprehensive inventory of the raw materials, assemblies, subassemblies, parts and components, as well as the quantities of each, needed to manufacture a product.
  • BOOT (build, own, operate and transfer) - BOOT (build, own, operate, transfer) is a project funding model based on a financial agreement between a private contractor and a public organization.
  • build or buy (make or buy) - Build or buy, often expressed as make or buy, is the fundamental decision as to whether to develop something in-house or purchase it from an external supplier.
  • business case - A business case is a written or verbal value proposition that is intended to educate a decision maker and convince them to take some kind of action.
  • business impact analysis (BIA) - Business impact analysis (BIA) is a systematic process to determine and evaluate the potential effects of an interruption to critical business operations as a result of a disaster, accident or emergency.
  • category management - Category management is a model that optimizes the oversight and allocation of resources by organizing related products or resources into logical groups so they can be more effectively managed.
  • Certificate of Competency - In defense contracting, a Certificate of Competency states that the holder is authorized to receive and perform on a specific government contract.
  • certified 8(a) firm - In defense contracting, a Certified 8(a) Firm is a firm that is eligible to receive eligible to receive federal contracts under the Small Business Administration's 8(a) Business Development Program because it is owned and operated by socially and economically disadvantaged individuals.
  • channel partner rules of engagement (ROE) - Channel partner rules of engagement are a component of the sales relationship between an IT vendor and its channel partner community.
  • chief procurement officer (CPO) - A chief procurement officer (CPO) is an executive title commonly given to the person responsible for the strategic acquisition of goods and services at an organization.
  • clickwrap agreement (clickthrough agreement) - A clickwrap agreement, also known as a clickthrough agreement, is an online contract that confirms a user's consent to a company's terms and conditions.
  • cloud broker - A cloud broker is a third-party individual or business that acts as an intermediary between the purchaser of a cloud computing service and the sellers of that service.
  • contract delivery date (CDD) - A contract delivery date (CDD) is the date of delivery required by a contract.
  • contract management software - Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.
  • contract theory - Contract theory is the study of how people and organizations develop legal agreements in situations with uncertain conditions, unknown factors and information asymmetry.
  • contracting officer - A contracting officer is an individual entrusted by an organization with the authority to enter into, administer, renew or terminate contract s, along with related determinations and findings.
  • cost price - A cost price includes all outlays that are required for production, including property costs, materials, power, research and development, testing, worker wages and anything else that must be paid for.
  • cost-plus pricing - Cost-plus pricing is a pricing model in which the price charged for a product is equal to its cost of production plus a specific mark up.
  • COTS (commercial off-the-shelf) - COTS (commercial off-the-shelf) describes ready-made products that can easily be obtained.
  • COTS, MOTS, GOTS, and NOTS - COTS, MOTS, GOTS, and NOTS are abbreviations that describe pre-packaged software or hardware purchase alternatives.
  • Defense Acquisition Regulatory Council (DARC) - The Defense Acquisition Regulatory Council (DARC) is a group composed of representatives from each Military department, the Defense Logistics Agency, and the National Aeronautics and Space Administration.
  • Defense Contract Management Agency (DCMA) - The Defense Contract Management Agency is the government agency that overseas administration of origin inspection contracts, dispatches quality assurance reports and audits/monitors subcontracting plans.
  • deliverable - Deliverable, as an adjective, describes something that can be delivered, such as a product or service.
  • digital workspace - A digital workspace is an integrated technology framework that centralizes the management of applications, data and endpoints and provides users with self-service, out-of-the-box experiences that scale across platforms, locations and device ownership models.
  • dynamic pricing - The goal of dynamic pricing is to allow a company that sells goods or services over the Internet to adjust prices on the fly in response to market demands.
  • e-invoicing - E-invoicing (or electronic invoicing) is the delivery of bills and related information by an enterprise to its clients using electronic communications, usually the Internet.
  • e-procurement (supplier exchange) - E-procurement is the business-to-business purchase and sale of supplies and services over the Internet.
  • electronic disposal efficiency (EDE) metric - Electronic disposal efficiency (EDE) is the percentage of decommissioned information technology electronics and electrical equipment that is disposed of through known responsible entities.
  • end of life (EOL) - End of life (EOL), in the context of manufacturing and product lifecycles, is the final stages of a product’s existence.
  • End User License Agreement (EULA) - An End User License Agreement (EULA) is a legal contract between a software application author or publisher and the user of that application.
  • ERP (enterprise resource planning) - ERP, or enterprise resource planning, is a modular software system designed to integrate the main functional areas of an organization's business processes into a unified system.
  • fair and reasonable price - A fair and reasonable price is the price point for a good or service that is fair to both parties involved in the transaction.
  • fair opportunity - Fair opportunity is a requirement that U.
  • Federal Acquisition Regulation (FAR) - Federal Acquisition Regulation (FAR) is the body of laws that govern the U.
  • feedback loop - A feedback loop is a system where some portion or all of the output produced by the system returns as input, effecting the succeeding processes of that system in some way.
  • fiat money (fiat currency) - A fiat money is a type of currency that is declared legal tender by a government but has no intrinsic or fixed value and is not backed by any tangible asset, such as gold or silver.
  • fiscal year - A fiscal year is the twelve-month period that an organization uses for budgeting, forecasting and reporting.
  • fixed price - A fixed price is a non-negotiable sum charged for a product, service or piece of work.
  • fixed price contract - A fixed-price contract, also known as a lump sum contract, is an agreement between a vendor or seller and a client that stipulates goods and/or services that will be provided and the price that will be paid for them.
  • full and open competition - With respect to a contract action, "full and open" competition means that all responsible sources are permitted to compete.
  • governmentwide acquisition contract (GWAC) - A governmentwide acquisition contract (GWAC) is a contract between a commercial IT service or product vendor and the U.
  • green procurement - Green procurement is a continuous commitment to start-to-finish process management with consideration for environmental impact in business activities used to meet needs for materials, goods, utilities and services.
  • GSA SmartBUY - SmartBUY is a United States federal procurement program.
  • HPE Partner Ready Program - The HPE Partner Ready Program is a global partner program that rewards and supports Hewlett Packard Enterprise's channel alliances.
  • impact sourcing - Impact sourcing is a service provision model in which jobs or tasks are outsourced to economically disadvantaged areas as a means of improving the situation of people living there.
  • indemnification - In service level agreements (SLAs) and other legal contracts such as end-user license agreements (EULAs), indemnification is the part of an agreement that provides for one party to bear the monetary costs, either directly or by reimbursement, for losses incurred by a second party.
  • information asymmetry - Information asymmetry is an imbalance between the knowledge of relevant factors and details between two negotiating parties.
  • insourcing - Insourcing is a business practice in which work that would otherwise have been contracted out is performed in house.
  • inventory turns - Inventory turns are a popular measurement used in inventory management to assess operational and supply chain efficiency.
  • invitation to tender (ITT) - An invitation to tender (ITT) is the initial step in competitive tendering, in which suppliers and contractors are invited to provide offers for supply or service contracts.
  • invoice - An invoice is a document listing billed goods and/or services that a provider presents to a customer.
  • ISV (independent software vendor) - An ISV (independent software vendor) makes and sells software products that run on one or more computer hardware or operating system (OS) platforms.
  • IT asset disposition (ITAD) - IT asset disposition (ITAD) is the business built around disposing of obsolete or unwanted equipment in a safe and ecologically-responsible manner.
  • IT asset lifecycle - The IT asset lifecycle is the stages that an organization’s information technology asset goes through during the time span of its ownership.
  • IT budget (information technology budget) - IT budget encompasses the money spent on information technology systems and services.
  • IT financial management - IT financial management is the oversight of expenditures required to deliver IT products and services.
  • IT procurement - IT procurement is the series of activities and procedures necessary to acquire information technology products or services.
  • IT procurement contract - An IT procurement contract is a document detailing the legally-binding agreement between a provider of IT products and services and the purchaser.
  • IT procurement software - IT procurement software is an application or product suite that automates and coordinates tasks involved with the acquisition of information technology-related products and services.
  • lead time (in purchasing/procurement) - In procurement, lead time includes the first effort to initiate procurement of goods or services up to the time of their arrival.
  • letter of intent - A letter of intent (LOI) is a document outlining the general plans of an agreement between two or more parties before a legal agreement is finalized.
  • limitation of liability clause - A limitation of liability clause is the section in a service-level agreement (SLA) that specifies the amounts and types of damages that each party will be obliged to provide to the other in particular circumstances.
  • Linkerd - Linkerd is an open-source network proxy developed by Buoyant to be installed as a service mesh.
  • Liquidware - Liquidware is a company that provides monitoring and management software for physical, virtual and cloud desktop deployments.
  • list price - The list price is the stated value for which something is offered for sale through a particular channel such as a showroom, a retail store, a catalog or a retail, wholesale or distributor website.
  • managed service provider (MSP) - A managed service provider (MSP) is a company that remotely manages a customer's IT infrastructure and/or end-user systems, typically on a proactive basis and under a subscription model.
  • manufacturer's suggested retail price (MSRP) - Manufacturer’s suggested retail price (MSRP) is the price that the maker of a product recommends for it in customer-facing retail stores.
  • market distortion - Market distortion is the lack of free and open competition in a market, whether through intentional actions or prevailing market conditions.
  • memorandum of understanding (MOU or MoU) - A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties.
  • monopoly - Monopolies may result from a lack of competing companies in a given market or a limited number of companies that are strong competitors.
  • monthly recurring revenue (MRR) - Monthly recurring revenue (MRR) is income a company can reliably anticipate every 30 days and one of the key metrics for channel partner companies.
  • multisourcing (multi-sourcing) - Multisourcing (multi-sourcing) is an outsourcing approach, most frequently employed by large enterprises, whereby IT operations and technology infrastructure are contracted to a series of vendors, rather than kept in-house or contracted to a select few providers.
  • NASA Solutions for Enterprise-Wide Procurement (SEWP) IV - NASA Solutions for Enterprise-Wide Procurement (SEWP) IV is a contract issued by NASA's SEWP BOWL (Solutions for Enterprise-Wide Procurement Business Operations and Workstation Laboratory) to a commercial technology vendor.
  • net price - Net price is the value at which a product or service is sold after all taxes and other costs are added and all discounts subtracted.
  • nonrepudiation - Nonrepudiation is the assurance that someone cannot deny something, such as the receipt of a message or the authenticity of a statement or contract.
  • ODM (original design manufacturer) - An ODM (original design manufacturer) is a company that takes the original specifications of another company or individual and builds the design to the product specifications.
  • OEM (original equipment manufacturer) - OEM, or original equipment manufacturer, is a broad term that describes a web of relationships among IT hardware vendors, hardware component makers, software vendors and channel partners such as resellers and distributors.
  • Open Buying on the Internet (OBI) - OBI (Open Buying on the Internet) is a proposed standard for business-to-business purchasing on the Internet, aimed particularly at high-volume, low-cost-per-item transactions.
  • operational level agreement (OLA) - An operational level agreement (OLA) is a contract that defines how various IT groups within a company plan to deliver a service or set of services.
  • opportunity cost - Opportunity costs are benefits that aren't realized because an alternative option is chosen.
  • paradox of choice - The paradox of choice is an observation that having many options to choose from, rather than making people happy and ensuring they get what they want, can cause them stress and problematize decision-making.
  • PeopleSoft eProcurement - PeopleSoft eProcurement is a component of Oracle’s Supplier Relationship Management (SRM) product group that enables self-service for requisition and other procurement tasks.
  • planned obsolescence - Planned obsolescence is the concept that a product should be designed and produced with the knowledge that it will only be popular, useful and functional for a limited length of time.
  • platform economy - Platform economy is the tendency for commerce to increasingly move towards and favor digital platform business models.
  • pre-market engagement - Both public and private sector organizations use pre-market engagement to get an advance understanding of the market, suppliers and their offerings while also forming or strengthening relationships with those suppliers.
  • prime contract - A prime contract is any contract or contractual action that is awarded directly to a contractor by the U.

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