formal, written contract
protocol that establishes the approach for
planning and managing the interim period
between the beginning of a contract and its
The quality of being open and
honest. In ethics, the belief that the more
information is disclosed, the better.
A device that responds to and
transmits radio waves. May be used in a
variety of supply management applications.
including smart cards, procurement credit
cards, inventory tracking, and radio frequency
A visual representation that indicates
the slope (or trend) in a particular data series
Refers to the metrics that
operationalize success across economic,
environmental, and social costs and impacts.
A quantity of freight to which
truckload rates apply; indicates full truckload
as opposed to LT (Less than Truckload)
shipment. Motor carriers will charge less per
Cwt if a shipper is moving full truckloads.
Truth in Negotiations Act (TINA)
A law that
established the requirement for certain
federal contractors to submit cost or pricing
data and certify that, to the best of the
contractor’s knowledge and belief, the cost or
pricing data submitted is current, accurate,
In construction procurement, a
requirement whereby the contractor is
responsible for the entire project, including
designing the project, contracting for
construction, and furnishing the structure. In
technology procurement, one supplier is
responsible for the hardware, software, and
support. May also apply when a contractor is
completely responsible for an entire project
from start to finish.
1. Movement (as of goods or people) into,
through, and out of a place.
2. A cycle of purchase, sale, and replacement of
a stock of goods. (Merriam Webster)
3. The number of times that various assets or
items of inventory are replaced during a
stated period of time.
An inventory control system in
which identical stock is stored in two separate
bins, with the stock in the second bin equal to
that calculated for the order point.
Withdrawals are made from the first bin and a
requisition to replenish the supply is
generated when that bin is emptied.