The A-Z of supply management
13 September 2012
Words, words, words - but what do they all mean? In the first of a new series, Ken Burnett and Mark Whitehead look at some of the terms bandied about in the purchasing world
A
Added value
Defined in The Official Dictionary of Purchasing and Supply by HK Compton and DA Jessop as: “The increase in realisable value resulting from an alteration in form, location or availability of a product or service, excluding the cost of the purchased materials and services.” In reality...