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: 1471-1480 of 2469 results

  • Moving Average

    A continuous average method used to gather the most current usage information about an item by taking current trends into account and always using the most recent data.

  • MPC


    See Also: Marginal Propensity to Consume (MPC)

  • MPS


    See Also: Marginal Propensity to Save (MPS)

  • MRO


    See Also: Maintenance, Repair, Operating (MRO)

  • MRP


    See Also: Material/Materiel Requirements Planning (MRP) System

  • MSDS


    See Also: Material Safety Data Sheets (MSDS)

  • Multi-Step Bidding

    A method of source selection involving two competitive steps, combining the elements of both Invitation for ​Bids and ​Request for ​Proposals. The first step may require the submission of technical and price proposals with only the technical proposals being evaluated and scored. The second step involves the opening of price proposals of those firms who have achieved the highest technical scores.

  • Multi-Year Contract

    A procurement contract that extends for longer than one year.

  • Multinational Corporation

    A corporation that operates on a worldwide or global scale, without significant ties to any one nation or region. (Business, 2000)

  • Multiple Award

    Contracts awarded to more than one supplier for comparable supplies and services. Awards are made for the same generic types of items at various prices. Usually the result of aggregated line item bids of similar product categories.

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