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: 1261-1270 of 2469 results

  • Joint Administrative Purchasing

    An arrangement under which part or all of the purchases of two or more governmental units are made by a joint purchasing office. Also referred to as consolidated purchasing.

  • Joint Bid Method

    A form of intergovernmental cooperative purchasing in which two or more public procurement agencies agree on specifications and contract terms and conditions for a given item of common usage and combine their requirements for these items in a single request for an Invitation for Bids. Once bids have been received and discussed by the participants, each public procurement agency issues and administers its own purchase order or contract.

  • Joint Ownership

    Ownership by more than one party, each with equal rights in the item owned. Frequently applied to the ownership of property or other assets. (Business, 2002)

  • Joint Purchasing Office

    A shared administrative agency created to perform the purchasing function for two or more governmental units in a joint administrative purchasing arrangement.

  • Joint Solutions Procurement (JSP)

    Partnering the supply community with the procurement agency prior to posting a solicitation for formal bids or proposals to provide an opportunity for the supply community to provide input to establish appropriate specifications, project designs, and deliverables. These acquisitions normally involve high dollar value/high risk procurements.

  • Joint Venture

    The coming together of two or more parties who combine their resources in response to a solicitation for bids or proposals. The relationship that is created is for the sole purpose of responding to the solicitation. (Harney, 1992)

  • Joint-Use (Agreements)

    Agreements between various government agencies that may involve the joint-use of public property such as buildings and equipment. For example, a public school district may share the use of a high school swimming pool with a county recreation and parks agency.

  • Judgmental Forecasting Method

    A prediction tool that incorporates intuitive judgments, opinions, and probability estimates. These forecasts are very subjective and are considered qualitative issues with no absolute resolutions. Generally, this situation occurs when either the organization infrequently procures the product or service or if the product or service is relatively new or in a dynamic environment. An example is the rapid increase in demand for hybrid automobiles.

  • Junk Bonds

    A special type of high-interest-rate bonds that carry higher inherent risks. (Business, 2002)

  • Juran, Joseph

    Published the Quality Control Handbook in 1951. Developed the quality trilogy, which consisted of quality planning, quality control, and quality improvement. (Business, 2002)

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