A means of selling goods
through an intermediary, such as a wholesaler
or dealer, rather than directly from the
Expenditure other than the cost
incurred to produce a good or deliver a
service (e.g., insurance, rent, and utilities).
Labor provided by those not
directly involved in the production of a good or
the delivery or a service (e.g., supervisors,
security guards, and human resources
A branch of the
engineering profession concerned with the
enhancement of systems, organizations, or
processes that deal with equipment,
materials, facilities, or people to maximize
efficiency and effectiveness.
Raw or processed material, or
component piece, that is purchased and used
to manufacture a final finished product.
Sometimes called an “intermediate good.”
Industrial Grade Product
A product designed to
be larger; more durable, resilient, or powerful;
longer lasting; or with a larger capacity than a
commercial grade product. See also:
Consumer Grade Product, Commercial Grade
Industrial Revenue Bond
A bond that a private
company uses to finance construction.
A bidder/proposer/offeror that does not meet the qualifications stated in the solicitation or a supplier that is currently debarred, suspended, or disqualified.
An increase in the average prices of
goods and services, usually measured
incrementally over a given time period.
(Schiller 2000) See also: Deflation.
A competitive bid, price
quotation, or proposal for supplies or services
that is conveyed via letter, fax, email, or other
manner that does not require a formal sealed
bid or proposal, public opening, or other
formalities. Generally relegated to
requirements that may be considered low
value or fall under a stipulated price/cost