Dictionary of Procurement Terms

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Search Results: 11-20 of 28 results for “Q”

  • Quality Assurance Teams (Quality Circles)

    Small groups of workers brought together from throughout the organization to solve specific quality issues to improve a process, procedure, or production method. (Burt, Dobler, & Starling, 2003)

  • Quality Control (QC)

    1. A manufacturing or service delivery process that incorporates tools and methodologies to provide assurance that the standards criteria specified will be delivered to the customer. 2. The processes an entity uses to maintain its established standards.

  • Quality Standard

    A framework for achieving a recognized level of quality within an organization. Achievement of a quality standard demonstrates that an organization has met the requirements laid out by a certifying body. Quality standards recognized on an international basis include ISO 9000 and ISO 14000. (Business, 2002)

  • Quantitative Measurements

    A measurement capable of being expressed as a quantity or a number of things. Example: The terms and conditions of this contract require the awardees to deliver three complete compressor units per day.

  • Quantitative Research

    The gathering and analysis of data that can be expressed in numerical form. Involves data that is measurable and can include statistical results, financial, or demographic data. (Business, 2002)

  • Quantity Demanded

    The amount of a product consumers will purchase at a specific price. An economic impact on pricing that is relational to supply and demand. (Schiller, 2000)

  • Quantity Discount

    A reduction in the unit price offered for a large volume contract. Economies of scale would dictate that the larger the volume/quantity, the lower the unit price or total cost.

    See Also: Volume Discounts, Volume Leveraging, Economies of Scale

  • Quantity on Hand (QOH)

    Material owned by the entity that is immediately and physically available for use by the entity that has not otherwise been specifically allocated or reserved for others.

  • Quantity Supplied

    The amount of a product producers will produce and sell at a specific price. Consumer demand influences producer production and pricing.

  • Quasi-Contract


    See Also: Implied Contract
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