Dictionary of Procurement Terms

A process used to screen an entity's inventory to determine which items should be consolidated, updated, or no longer maintained in inventory.

A sampling procedure that uses a single sample size with associated acceptance and rejection criteria.

A procurement decision whereby purchases are directed to one source because of standardization, warranty, or other factors , even though other competitive sources may be available.

Visit to the actual location where a contract is to be performed by potential bidders or proposers so they can become familiar with site conditions. May be held in conjunction with a pre-bid or pre-proposal conference.

A set of management problem-solving techniques aimed at greatly reducing the probability of errors and defects.

A wood or metal platform fitted with two runners or with legs, upon which material is placed or transported.

A mismatch between the skills that employers require for a job position and the skills an employee or applicant possesses.

The placing of buyer-required radio frequency identification (RFID) tags on cases or pallets just prior to shipment.