Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 191-200 of 204 results for “P”
  • Purchase Log

    A register of all requisitions received and all purchase orders issued, containing information such as requisition number, purchase order number, bid number, supplier name, commodity code or description of the material or service, and the value of the order. Generally contained in a legacy database.
  • Purchase Order

    A purchaser’s written document to a supplier formalizing all terms and conditions of a proposed transaction (e.g., description of the requested items, cost of items being purchased, delivery schedule, terms of payment, transportation).
  • Purchase Order Change Notice

    A form documenting a change made to a purchase order.
  • Purchase Requisition (PR)

    A document created by a requestor authorizing the commencement of a purchasing transaction; typically will include a description of the need and other information relative to the transaction. May be submitted in hard copy or via eProcurement software.
  • Purchaser/Procurer

    1. One who buys or issues a solicitation for goods, services, or construction on behalf of an entity. 2. An individual who purchases or procures on behalf of an entity. 3. A procurer of goods, services, and construction.
  • Purchasing

    Obtaining, renting, or leasing needed goods or services without a long-term contract or ongoing relationship with a vendor.
  • Purchasing (Procurement) Department

    The staff of procurement professionals in an entity who act as the primary buyers of goods and services and oversee any delegated purchasing authority.
  • Purchasing Card

  • Purchasing Power Parity (PPP)

    A metric that compares the equivalent purchasing power of various countries' currencies with one another.
  • Purchasing/Procurement Cycle

    The sequence of activities from identification of need through disposal or contract closeout for goods, services, or construction carried out by a procurement department or individual with delegated procurement authority. See also: Cradle-to-Grave.



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