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: 1371-1380 of 2469 results

  • Make or Buy

    A procurement decision that examines the cost/benefit of producing an item in-house or from an outside source. Two factors that stand out at the tactical level are total cost of ownership and the availability of production capacity.

  • Managed Competition


    See Also: Public-Private Competition

  • Management

    A process designed to achieve an organization’s objectives by using its resources effectively and efficiently in a changing environment.

  • Management Audit

    An audit conducted to determine the degree of management efficiency and effectiveness.

  • Management Buy-Out

    The purchase of an existing business by an individual manager or management group from within the business. (Business, 2002)

  • Management Reports

    A technique used to measure progress or to control procurement activities from collected data. These reports enable both procurement officials and managers to assess progress and readjust activities to accomplish the goals and objectives of the organization.

  • Mandatory

    Obligatory, required by order, a provision that may not be waived.

  • Mandatory Requirements (Conditions)

    May apply to Request for Proposals (RFP) and Invitation for Bids (IFB), and are conditions set out in the scope of work/specifications that must be met without alteration. Mandatory requirements should be clearly identified. Not meeting mandatory requirements may be grounds for disqualification of a bid or proposal.

  • Manifest

    An itemization usually provided by the carrier that details the items included in a particular shipment. A bill of lading or an itemized listing of cargo. (ISM, 2000)

  • Manufacturer

    A person or business entity that creates, makes, processes, or fabricates a product or something of value that changes a raw material or commodity from one form to another or creates a new product or commodity. (Business, 2002)

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