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Common Terms
We thought it might be useful to provide a guide to some of the common terms and acronyms connected with outsourcing and government procurement.
BAFO: Best and Final Offer
Insourcing (meaning # 1): bringing the provision of outsourced business services back "in-house"
Insourcing (meaning # 2): bringing the provision of outsourced business services back into the country of the organisation whose services are being outsourced
Offshoring: contracting out the provision of certain business services to a third party based outside the country of the operation whose business is being outsourced
OGC: Office of Government Commerce - an office of HM Treasury, tasked with improving value for money of government procurements
OJEU (formerly OJEC): Official Journal of the European Union
Outsourcing: contracting out the provision of certain business services to a third party
RFI: Request for Information
RFP: Request for Proposal
RFQ: Request for Quotation
Tender: the document containing the proposed bid from a potential supplier