CIPS Knowledge Summary On Ethical Business Practices In Purchasing And Supply

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Register to read the introduction… A framework of ethical theory and practice is developing and is clearly set out in the CIPS Knowledge Summary paper on Ethical Business Practices in Purchasing and Supply. P&SM Jargon Buster V1

Extranet
Community of trading partners running over an Internet Access Provider’s controlled business network again using Internet communication protocols and Web browser technology. Extranets are run on a ‘community controlled’ basis.

Ex-Works (EXWO)
An Incoterm. Means the seller's only responsibility is to make the goods available at the seller's premises, i.e., the works or factory. The seller is not responsible for loading the goods on the vehicle provided by the buyer unless otherwise agreed. The buyer bears the full costs and risk involved in bringing the goods from there to the desired destination. Ex - Works represents the minimum obligation of the seller.

P&SM Jargon Buster
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They are used in Business Intelligence to assess the present state of business or a contract and to prescribe the next course of action.

Knock Down
A product supplied unassembled, usually to facilitate cost effective transportation, often for the customer or third party to assemble.
(Source: adapted from The official dictionary of purchasing & supply by KH Compton and DA Jessop)

Knocked Down
Term used when an auctioneer or salesman accepts a bid and assigns the lot to the person bidding; the lost is said to be knocked down.
(Source: adapted from The official dictionary of purchasing & supply by KH Compton and DA Jessop)

Knowledge Management
Is the explicit and systematic management of vital knowledge and its associated processes of creation, organisation, diffusion and

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