Search results
Results From The WOW.Com Content Network
The third party is considered independent from the other two, even if hired by them, because not all control is vested in that connection. There can be multiple third-party sources with respect to a given transaction, between the first and second parties. A second-party source would be under direct control of the second party in the transaction.
Third-party management is the process whereby companies monitor and manage interactions with all external parties with which it has a relationship. This may include both contractual and non-contractual parties. Third-party management is conducted primarily for the purpose of assessing the ongoing behavior, performance and risk that each third ...
Vendor-managed inventory ( VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. Under VMI, the retailer shares their inventory data with a vendor (sometimes called supplier) such that the vendor is the decision-maker who determines the ...
Third-party logistics providers include freight forwarders, courier companies, and other companies integrating and offering subcontracted logistics and transportation services. Hertz and Alfredsson (2003) describe four categories of 3PL providers: [4] Standard 3PL Provider. this is the most basic form of a 3PL provider.
Software as a service data escrow is the process of keeping a copy of critical software-as-a-service application data with an independent third party. Similar to source code escrow , where critical software source code is stored with an independent third party, SaaS data escrow applies the same logic to the data within a SaaS application.
Third-party software component. In computer programming, a third-party software component is a reusable software component developed to be either freely distributed or sold by an entity other than the original vendor of the development platform. The third-party software component market thrives because many programmers believe that component ...
Commercial-off-the-shelf or commercially available off-the-shelf ( COTS) products are packaged or canned (ready-made) hardware or software, which are adapted aftermarket to the needs of the purchasing organization, rather than the commissioning of custom-made, or bespoke, solutions. A related term, Mil-COTS, refers to COTS products for use by ...
Procurement outsourcing. Procurement outsourcing is the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Procurement categorisation and vendor management of indirect materials and ...