Dictionary of Procurement Terms

A transportation vessel or vehicle designed for wheeled cargo to be driven on and off the vessel using the cargo's wheels or a platform vehicle.

A technique that enables a manager to determine what happened in an unexpected situation, why, and methods of preventing the occurrence in the future by examining all factors that could contribute to the problem, including, but not limited to, factors such as environmental, human, and procedural matters.

A determination of how a shipment will move from the point of origin to its destination, including the selection of carriers and geographic routes.

Compensation for the use of property.

Refuse that must be disposed of that does not have any market value. See also: Scrap, Waste.

Extra quantity of an inventory item retained to reduce the risk of stock outages.

Transactions involving the exchange of goods or services for money.

A marketing strategy in which a short-term incentive or added value is offered for free or at a reduced price in an effort to increase sales to customers.