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: 61-69 of 69 results for “O”

  • Originator

    CANADIAN One who initiates a procurement, issue, or disposal transaction.

  • OSHA


    See Also: Occupational Safety and Health Administration (OSHA)

  • Outcome

    The result of a process.

  • Outputs

    The amount of something that is produced by a person or thing; something (such as power, energy, or information) that is produced by a machine or system; the place at which information, power, etc., comes out of a machine or system. (Merriam-Webster)

  • Outsourcing

    Occurs when an entity makes an informed decision to contract out a product, service, or business process that was previously provided by internal (in-house) resources. The responsibility for providing the contracted-out product, service, or business process remains with the entity, and the entity pays the contractor for the work done and administers the contract.

    See Also: Insourcing (in-house), Contracting Out

  • Outsourcing of Non-Core Activities

    Evaluating purchasing and supply activities to place non-core activities with outside contractors or suppliers. A form of “second-level” cost savings. (Crimi & Kauffman, 2003)

  • Overage

    CANADIAN The quantity disclosed by count as being in excess of the quantity indicated on associated records; Surplus.

  • Overhead Cost

    The indirect recurring costs of running a business. (Business, 2002)

  • Overrun

    An amount by which the actual cost of performance exceeds the amount budgeted for the work or the amount contracted for.
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