Dictionary of Procurement Terms

Dictionary of Procurement Terms

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Search Results: 31-39 of 39 results for “W”
  • Woman-Owned Business Enterprise (WBE)

    Denotes that a woman (or women) has majority ownership and control of a business. See also: Historically Underutilized Business (HUB), Small Disadvantaged Business, Economically Disadvantaged Individuals.
  • Work Order

    A document setting out all terms and conditions of a repair or alteration transaction.
  • Work-In-Process

    A term describing a partially finished good awaiting completion.
  • Workaround

    A bypass of a recognized problem in a system. A temporary fix that implies that a genuine solution to the problem is needed. Frequently, they are as creative as true solutions, involving out-of-the-box thinking in their creation. A workaround is not a permanent solution and may eventually result in system failure.
  • World Trade Organization (WTO)

    A global international organization created in 1995 by the General Agreement on Tariffs and Trade (GATT) that deals with rules regarding trade among countries.
  • World Trade Organization-Agreement on Government Procurement (WTO-AGP)

    A World Trade Organization agreement that replaced the General Agreement on Tariffs and Trade (GATT) in 1996. It regulates the procurement of goods and services by public bodies and reduces trade barriers among member nations.
  • World-Class Manufacturing

    The philosophy that the achievement of excellence in all aspects of market competition—such as the lowest cost or fastest and best production of a good or service—encompasses the practices of international benchmarking, quality management, continuous improvement, and flexible work schedules.
  • Write-off

    The deletion from records of material due to shortage or loss by any cause.
  • WTO

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