Dictionary of Procurement Terms

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Search Results: 51-60 of 248 results for “P”

  • Period of Assignment

    CANADIAN The starting and finishing dates for the services being called up. Also see Call Up.

    See Also: Call-Up

  • Periodic Inventory Control System

    A time-based inventory control system involving scheduled reviews of the stock level of each inventory item.

  • Periodic Ordering

    Orders placed at intervals for quantities needed to bring stocks up to the desired levels.

  • Perishable Goods

    Material subject to spoilage or deterioration within a relatively short time if proper conditions, such as temperature, are not maintained.

  • Perpetual Inventory Control System

    An on-going record of all stock items, showing stock levels, withdrawals, replenishment, placement of purchase orders, receipt, issues, balances, quantities available, and stock adjustments.

  • Personal Liability

    A contracting risk whereby an individual (an agent) may be held personally liable if they have committed an unlawful, negligent, or criminal act in the performance of their duties. (Ferrell & Hirt, 2002)

  • Personal Property

    1. Tangible or intangible property, other than real property. 2. Movable property subject to ownership, with exchangeable value.

  • PERT


    See Also: Program Evaluation and Review Technique (PERT)

  • Petites et Moyennes Entreprises

    CANADIAN A French phrase meaning small and medium-sized businesses.

  • Physical Distribution

    All of the activities necessary to move products from producers to customers—inventory control, transportation, warehousing, and materials handling. (ISM, 2002)

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