Procurement Terms
Subject
A-Z
It typically involves assessing factors such as skills, processes, resources, performance metrics, or compliance requirements. By identifying gaps, organizations can prioritize areas for improvement, develop action plans, allocate resources effectively, and track progress towards achieving their desired objectives.
In a procurement setting, the analysis can be used to assess the current and future business requirements against the current goods, services and capabilities available from the current supply base. The resulting gaps can then prioritized to close the most important gaps first.
It involves centralizing resources, expertise, and systems to deliver services efficiently, improve quality, and drive cost savings. GBS enables collaboration, standardization, and harmonization of processes, enhancing operational effectiveness and enabling the organization to better support its global operations.
The information captured includes details such as the date of receipt, the supplier, the quantity received, and any discrepancies or damages observed. This documentation serves as a reference for subsequent processes like payment verification, inventory updates, and vendor evaluation. A proper goods receipt helps ensure accurate inventory management and enables efficient order processing.
Greenhouse gas monitoring, sometimes described as Scope 1, Scope 2 or Scope 3, refers to the practice of tracking and measuring the emissions of greenhouse gases that are generated by a company's operations, including its supply chain, production processes, and transportation. This involves gathering data on the consumption of energy and raw materials, as well as emissions generated during production and transportation activities. The purpose of greenhouse gas monitoring as a business is to identify areas of high emissions and develop strategies to reduce them, with the ultimate goal of mitigating the impact of climate change. This practice is becoming increasingly important for businesses as governments and consumers demand greater accountability and action on climate change.
The emissions are split into 3 ‘scopes’:
Scope 1 – Are direct greenhouse gas emissions from company-owned or controlled sources, such as emissions from combustion in boilers or vehicles.
Scope 2 – Are indirect greenhouse gas emissions from the generation of purchased electricity, heat, or steam consumed by the organization.
Scope 3 - Are indirect emissions from activities outside of the organization's control, such as emissions from the production of purchased materials, employee commuting, or waste disposal.