Examlex
Long-term improvements cannot be made to a process unless the process is first brought under control.
Vendor Selection
The process of evaluating and choosing suppliers for goods or services based on criteria such as price, quality, and reliability.
Vendor Development
The process of improving and enhancing the capabilities of vendors to meet the procuring organization's supply chain requirements.
World Class Firm
A company that achieves high levels of efficiency, competitiveness, and profitability, recognized globally for excellence in its operations and services.
Performance Measures
Metrics or standards used to evaluate the efficiency, effectiveness, and quality of operations or activities within an organization.
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