Dictionary of Procurement Terms

A purchasing and investment process that takes into account the economic, environmental, and social impacts of an entity's spending. See also: Environmentally Preferable Purchasing.

Strengths, Weaknesses, Opportunities, Threats. A strategic planning tool used to improve organizational effectiveness; developed by Alfred Humphrey for business analysis.

The fundamental enabling structure upon which a system operates, including technology platforms; software, and other standards; shared services; management support; and capabilities.

The process of analyzing existing systems for the purpose of evaluating possible improvements in methods and procedures.

1. A contract that establishes a source of supply for a specified period for a large group or related family of materials 2. A method of procurement designed to improve the reordering of materials used repeatedly. May include a catalog with a list and description of items that can be purchased. See also: Blanket Order.