Dictionary of Procurement Terms

Dictionary of Procurement Terms

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

Search the Dictionary of Terms

Search Results: 101-110 of 185 results for “S”
  • Standard Deviation

    A calculated measure of the dispersion or variation of a set of values from its mean value.
  • Standard Industrial Classification (SIC) Code

    A comprehensive code classifying all business by what is produced or sold, for whom it is produced, and to whom it is sold.
  • Standard of Value

    The economic worth of a good or service, conveyed by pricing.
  • Standard Specification

    A specification that is to be used for all or most purchases of an item; describes all required physical and functional characteristics of goods, services, or construction.
  • Standardization

    The policy or practice of identifying a specific or group of goods or services with set specifications to be procured by an entity or through an agreement with other entities (e.g., fleet vehicles).
  • Standardization of Specifications

    The process of establishing a single specification for an item or range of items.
  • Standards (Standardization) Committee

    Generally, an internal committee consisting of cross-functional representation including procurement, end users, and other internal stakeholders impacted by the decisions of the committee. Examples of key functions and activities include: 1) developing standards through a simplification process for designated products and services, 2) establishing specifications, 3) reviewing items to determine which should be incorporated into a standards program, and 4) approving products for a qualified products list.
  • Standing

    Normally associated with judicial actions, the legal right of a person, company, or other legal entity to initiate a lawsuit by demonstrating to the court sufficient harm to a legally protected interest to support that party’s participation in the case. For example, the ABA Model Procurement Code generally limits judicial standing in bid protest litigation to potential or actual contractors. See also: Interested Party.
  • Standing Offer

    An offer from a supplier to provide goods or services when needed under a pre-arranged set of terms, conditions, and prices.
  • Standing Order

    An order similar to a blanket order, except with specified quantities and delivery dates. See also: Blanket Order.



Is there a term missing from our dictionary?


Does a more concise or relevant definition apply?


Submit your comments/suggestions to our editorial board at dictionary@nigp.org