Good definitions

February 13th, 2006 at 08:33am David Bush - Iasta

I was playing around with one of my favorite useful sites recently, Wikipedia, and decided to investigate the depth of the supply chain knowledge base. I was planning to pen a few descriptions but to my surprise, it was almost completely comprehensive. For those not familiar, Wikipedia is a user community driven encyclopedia which is 100% self monitored and built. It is sort of like open source meets Britannica and now boasts 3.8 million articles in 100 languages. I thought these were useful for our forum:

• Reverse Auction
• RFx (listed as RFQ/P/I)
• e-Procurement
• Strategic Sourcing
• Spend Management
• Supply Chain Management

We use Wiki’s here at Iasta for many different reasons as a collaborative intra-office tool and they are very cool usages of technology. I will be thinking about other industry terms to see if I come up with some worthy of posting in the future. Since this is an open community, all definitions are under continual review and any one is welcome to add clarity to the source file. It is a fascinating site.

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Entry Filed under: Contract Management, Functionality, General, Reverse Auctions, Spend Analysis, e-RFx, e-Sourcing Marketplace