The WAND Procurement Taxonomy contains 145 categories and 107 synonyms. Procurement Process, Suppliers, and Types of Procurement are the top-level terms. Procurement Process includes Tendering and Procurement Methods, Procurement Planning, and Procurement Implementation. Procurement Methods include Competitive Procurement Methods, Construction Management Procurement Methods, E-Procurement, Formal Solicitations, Informal Solicitations, and more. The WAND Procurement Taxonomy was created to provide a foundation set of terms for any enterprise involved in procurement and can easily be customized with terminology specific to any acquisition of goods or services.
While one taxonomy is good, multiple taxonomies to address other areas of your business is better! Check out some of our curated recommendations for other taxonomies that pair well with the
WAND has also created Taxonomy Suites which address all of the domains of knowledge within your business. Check out all of our suites here or take a look at our pick for you.
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WAND is the industry leader in developing and providing pre-built foundation taxonomies to companies around the world to improve organization, tagging, and search of unstructured and semi-structured information.
Turn any taxonomy project from a challenging build to a simple edit. Available in formats to support multiple enterprise applications, WAND Foundation Taxonomies jump-start any taxonomy initiative and are available for every industry vertical and business function.
There are more than 150 common enterprise applications that can use taxonomy covering categories like Artificial Intelligence, Search, B.I. Analytics, Big Data, Records Management, Data Mining, Knowledge Graphs, Predictive Analytics, CRM Client Classification, Expertise Identification, Document Tagging, and Sentiment Analytics.
The WAND Taxonomies are foundation taxonomies, meaning they are designed to provide a strong starting point which can then be customized for the needs of a specific business. It’s difficult to find a taxonomy that will be a perfect fit for your needs straight out of the box, so foundation taxonomies are a great place to start because they can provide an initial 80% starting point and jumpstart. With foundation taxonomies, the time spent developing taxonomy is dramatically reduced. Foundation taxonomies provide a common-sense starting point for all stakeholders in a taxonomy project so that targeted feedback can be provided to customize the taxonomy specifically for your needs.
WAND has professional services and related tools to help customize these foundation taxonomies. Be sure to visit our news feed to learn about updates to individual taxonomies in the catalog.