--- title: Procurement Lexicon | Venkadesh Narayanan (3) description: Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development. (3) image: https://blog.fhyzics.net/hubfs/Procurement%20Lexicon-Featured%20Image.jpg --- Procurement Lexicon # Master the 2500+ procurement terminologies for success in career, interviews, and certification examinations. [Discover More ](https://www.hubspot.com/) [Get Started ](https://www.hubspot.com/) - [ Procurement Certifications ](https://pages.fhyzics.net/certversity) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) ### Venkadesh Narayanan Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development. All Post - [All Post](https://blog.fhyzics.net/procurement-lexicon) - [UVWXYZ](https://blog.fhyzics.net/procurement-lexicon/tag/uvwxyz) - [ABCDE](https://blog.fhyzics.net/procurement-lexicon/tag/abcde) - [FGHIJ](https://blog.fhyzics.net/procurement-lexicon/tag/fghij) - [KLMNO](https://blog.fhyzics.net/procurement-lexicon/tag/klmno) - [PQRST](https://blog.fhyzics.net/procurement-lexicon/tag/pqrst) Search [![Procurement Lexicon – Terminologies – F Series](https://blog.fhyzics.net/hs-fs/hubfs/Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20F%20Series.png?width=400&upsize=true&name=Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20F%20Series.png) ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-f-series) [FGHIJ](https://blog.fhyzics.net/procurement-lexicon/tag/fghij) ##### [Procurement Lexicon – Terminologies – F Series](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-f-series) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) [ Venkadesh Narayanan ](https://blog.fhyzics.net/procurement-lexicon/author/venkadesh-narayanan) 31 August 2023 Facilitation Payment: Facilitation payment, also known as a "grease payment" or "expediting... 70 minutes read [ Read More ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-f-series) [![Procurement Lexicon – Terminologies – E Series](https://blog.fhyzics.net/hs-fs/hubfs/Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20E%20Series.png?width=400&upsize=true&name=Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20E%20Series.png) ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-e-series) [ABCDE](https://blog.fhyzics.net/procurement-lexicon/tag/abcde) ##### [Procurement Lexicon – Terminologies – E Series](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-e-series) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) [ Venkadesh Narayanan ](https://blog.fhyzics.net/procurement-lexicon/author/venkadesh-narayanan) 31 August 2023 E-Action: E-Action, short for Electronic Auction, is a procurement method employed in the digital... 82 minutes read [ Read More ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-e-series) [![Procurement Lexicon – Terminologies – D Series](https://blog.fhyzics.net/hs-fs/hubfs/Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20D%20Series.png?width=400&upsize=true&name=Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20D%20Series.png) ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-d-series) [ABCDE](https://blog.fhyzics.net/procurement-lexicon/tag/abcde) ##### [Procurement Lexicon – Terminologies – D Series](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-d-series) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) [ Venkadesh Narayanan ](https://blog.fhyzics.net/procurement-lexicon/author/venkadesh-narayanan) 31 August 2023 Damages: Damages refer to financial compensation awarded to a party in a legal context as a remedy... 99 minutes read [ Read More ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-d-series) [![Procurement Lexicon – Terminologies – C Series](https://blog.fhyzics.net/hs-fs/hubfs/Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20C%20Series.png?width=400&upsize=true&name=Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20C%20Series.png) ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-c-series) [ABCDE](https://blog.fhyzics.net/procurement-lexicon/tag/abcde) ##### [Procurement Lexicon – Terminologies – C Series](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-c-series) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) [ Venkadesh Narayanan ](https://blog.fhyzics.net/procurement-lexicon/author/venkadesh-narayanan) 31 August 2023 Call For Competition: A Call for Competition is a critical step in the procurement process,... 252 minutes read [ Read More ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-c-series) [![Procurement Lexicon – Terminologies – B Series](https://blog.fhyzics.net/hs-fs/hubfs/Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20B%20Series.png?width=400&upsize=true&name=Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20B%20Series.png) ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-b-series) [ABCDE](https://blog.fhyzics.net/procurement-lexicon/tag/abcde) ##### [Procurement Lexicon – Terminologies – B Series](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-b-series) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) [ Venkadesh Narayanan ](https://blog.fhyzics.net/procurement-lexicon/author/venkadesh-narayanan) 31 August 2023 B2B Connectivity: B2B Connectivity, short for Business-to-Business Connectivity, is a term in... 71 minutes read [ Read More ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-b-series) [![Procurement Lexicon – Terminologies – A Series](https://blog.fhyzics.net/hs-fs/hubfs/Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20A%20Series-1.png?width=400&upsize=true&name=Procurement%20Lexicon%20%E2%80%93%20Terminologies%20%E2%80%93%20A%20Series-1.png) ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-a-series) [ABCDE](https://blog.fhyzics.net/procurement-lexicon/tag/abcde) ##### [Procurement Lexicon – Terminologies – A Series](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-a-series) ![Venkadesh Narayanan](https://blog.fhyzics.net/hubfs/vengadesh-narayanan.png) [ Venkadesh Narayanan ](https://blog.fhyzics.net/procurement-lexicon/author/venkadesh-narayanan) 31 August 2023 360-Degree Feedback:  360-degree feedback, often referred to in a corporate setting, is a... 57 minutes read [ Read More ](https://blog.fhyzics.net/procurement-lexicon/procurement-lexicon-terminologies-a-series)