An action phrase used by clueless management and consultants to end a conversation because they're afraid of committing to a course of action and to imply they will continue to think about it. Question the sanity and time management skills of anyone who says "Lets Circle back later"
me: Should we go with A, or B?
Consultant: Hey dude it's 3pm and mumble mumble, lets circle back later
me: Fuck you! Decide now!