LTD (Life to Date)
Life-To-Date (LTD) is a procurement term which measures the total amount of goods or services purchased from a vendor within a specified time period. LTD can be used to compare past spending to current spending, allowing companies to identify areas where they may be overspending and optimize their purchasing decisions. It is important for businesses to keep track of LTD when implementing procurement and supply chain strategies as it provides an accurate assessment of their current spending trends.
