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.

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Search Results: 1-10 of 39 results for “W”

  • Wage/Salary Survey

    A study of annual salary numbers or hourly wage figures for a given industry used to assess an entity's or business' comparable pay structure and practices.

  • Wages

    Money paid to an employee by an employer in exchange for work.

  • Waiver

    The intentional or voluntary relinquishment of a known right that warrants an inference that the right has been relinquished. Examples of waivers in supply management may include a waiver of certain contract requirements such as delivery dates, testing requirements, and performance standards.

  • Waiver of Bids

    A process, usually statutory, whereby a procurement department may source items without formal bidding procedures.

  • Waiver of Minor Irregularity or Informality

    The act of disregarding minor errors or technical nonconformance in the offer that will not adversely affect the competition or prejudice one offeror in favor of another.

  • Warehouse

    A structure used for the storage of material that provides protection against theft, damage, or deterioration.

  • Warehouse Credit

    Credit used for requisitioned supply or supplies found to be in excess of requirements and that must be returned to a warehouse.

  • Warehouse Receipt

    An instrument showing that the signer has possession of certain described goods for storage, obligating the signer to deliver the goods to a specified person, or to that person’s order, or bearer, upon return of the instrument.

  • Warehouse Requisition

    A document prepared by a department or entity to remove items stocked in inventory from a warehouse.

  • Warehousing

    The performance of the administrative and physical distribution functions incidental to and required in the conduct of the storage activity.
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