Dictionary of Procurement Terms

Date or dates by which a shipment is to be delivered to a purchaser or by which a service must be completed.

An indefinite delivery/indefinite quantity contract for supplies or services that provides for the issuance of orders for services or supplies during the contract period. May also be referred to as a task order contract.

The requested date by which all goods or services must be delivered.

A delivery plan indicating the time of the beginning and completion of each delivery.

Conditions in a contract regarding freight charges, place and time of delivery, or method of transportation. See also: Free on Board (F.O.B.) Destination, Freight Collect, Freight Collect and Allowed, Freight Prepaid and Added, Freight Prepaid and Allowed, Free on Board (F.O.B.) Origin, Freight Prepaid and Charged Back.

A forecasting technique for the purpose of predicting future conditions that relies on a structured panel of subject matter experts (SMEs). The SMEs answer questionnaires in the first round. In subsequent rounds, the SMEs' forecasts from the previous round are provided, along with their rationale for their judgments. They are then encouraged to revise their answers in consideration of the input from the other SMEs.

The willingness and ability to buy specific quantities of goods at alternative prices in a given time period. (Schiller 2000)

An all-inclusive method conducted to quantify, with reasonable accuracy, the anticipated material requirements that will be needed to support the entity’s operations. See also: Market Analysis, Supplier Analysis.

1. A binding legal agreement that links spend data by dates and allows for rebates and discounts through automated contract management systems. Pricing is based on historical usage. 2. A contract under which a contractor/supplier agrees to provide goods or services to a purchaser on a demand basis. See also: Market Analysis, Blanket Order.

A graphical depiction of the relationship between the price of goods or services and the quantity demanded for a set time period.