When a company is evaluating products from multiple vendors to solve a specific company problem.
Example: There were multiple potential vendors to solve the company's problem, so the company went through a bake-off process to find the right vendor and solution.
Variations: bake off, vendor bake-off, supplier bake-off
Jargonism is a Business English dictionary. You can learn about words and phrases that are commonly used in the workplace like Circle Back, Thought Leader, and Offsite. We also have a Word of the Day, which is a daily Business English vocabulary word that is commonly used in the workplace.
On this site, we also have templates on how to communicate effectively at work, such as requesting PTO, declining a promotion, and taking a sick day.
Word: Close It Out
Definition: To mark something as completed.
Example: This task has been fixed, so let's close it out within the task tracker.