Dictionary of Procurement Terms

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Search Results: 1-1 of 1 result for “Theory of Constraints (TOC)”

  • Theory of Constraints (TOC)

    Overall management philosophy introduced by Eliyahu Goldratt that is geared to help organizations continually achieve their goal. The philosophy holds that any manageable system is limited in achieving more of its goal by a very small number of constraints. There is always at least one constraint. The TOC process seeks to identify the constraint and structure the rest of the organization around it.