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Author name: Ganeswar Swain

Back-Integration

Back-Integration refers to a strategic process where a company expands its role in the supply chain by acquiring or internalizing operations that were previously outsourced to suppliers. This approach can enhance control over production processes, improve efficiency, reduce dependency on external suppliers, and potentially reduce costs by tightening integration within the supply chain.

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Backwards Integration

Backwards Integration is a strategic process where a company expands its role and capabilities by acquiring or merging with upstream suppliers or input providers. This allows the company to gain control over its supply chain, reduce dependency on outside suppliers, secure inputs at a cost-effective rate, increase operational efficiency, and enhance competitive advantage by controlling

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Benchmarking

Benchmarking is a systematic process of measuring an organization’s performance against the industry’s best practices and standards. It involves identifying key performance indicators, comparing them with top performers or peers, and analyzing the gaps to implement improvements. This process helps organizations enhance efficiency, productivity, and competitiveness by adopting proven best practices.

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Bid Analysis

Bid Analysis is the evaluation and comparison of bids submitted by suppliers during a procurement process. It involves assessing various aspects such as price, quality, service levels, and compliance with specifications to determine the most advantageous offer for the organization. The goal is to ensure that the selected bid meets the procurement objectives efficiently and

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Bidding

Bidding in procurement is the competitive process where suppliers submit proposals or quotes to provide goods or services, typically initiated by an organization to achieve the best possible price and terms. This process ensures transparency, cost efficiency, and quality in supplier selection, with the aim of maximizing value through competitive offers.

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AppXtend

AppXtend refers to an extension of application functionalities, typically designed to enhance the capabilities of a platform by integrating additional features or connecting with other systems. It involves customizing or adding specific modules to existing applications to tailor them to unique business needs or to improve overall efficiency and effectiveness.

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