Dictionary of Procurement Terms

A study that tells an organization how much compensation comparable organizations are paying for specific jobs that the organizations have in common. May be helpful for the negotiation of labor classifications on service contracts that are labor intensive. (Business, 2002)

Financial rewards based on the number of hours the employee works or the level of output achieved. (Schiller, 2000)

The intentional or voluntary relinquishment of a known right, or conduct 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.

A process, usually statutory, whereby a government purchasing office may procure items without formal bidding procedures because of unique circumstances related to that particular action.

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.

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

Used for requisitioned supplies found to be in excess of requirements and which must be returned to the warehouse.

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

A document prepared by a government department or agency to remove items stocked in Inventory from the warehouse.

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