Dictionary of Procurement Terms

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Search Results: 1571-1580 of 2469 results

  • Obsolete Supplies/Equipment

    Items that are out of date, no longer in use, or are effectively unusable; examples: 8 track audio tapes, 5-1/4 floppy computer disks. Obsolete supplies/equipment become outdated because of new technology, new regulations, or new procedures instituted by the entity.

    See Also: Surplus

  • Occupational Safety and Health Administration (OSHA)

    A division within the U.S. Department of Labor that was created by the OSHA Act of 1970. OSHA’s mission is to assure safe and healthful working conditions for working men and women by setting and enforcing standards and by providing training, outreach, education, and assistance. (OSHA)

  • Ocean Bill of Lading

    A bill of lading used by ocean carriers for marine transportation of goods.

  • OCR


    See Also: Optical Character Recognition (OCR) (Optical Scanning)

  • OEM


    See Also: Original Equipment Manufacturer (OEM)

  • Off-the-Shelf

    Common use items that are readily available in the marketplace and do not have to be specially ordered. Generally, they are not affected by supply and demand issues and are price stable. May also refer to systems or services readily available to commercial users that are not produced in accordance with rigid specifications. Typical examples include basic electrical and basic plumbing items. (Schiller, 2000)

  • Offer

    A response to a solicitation that, if accepted, would bind the offeror to honor what was submitted.

  • Offeree

    The person/entity to whom an offer is made in response to a solicitation.

  • Offeror

    A generic term that refers to a person or entity who submits an offer in response to a solicitation.

    See Also: Proposer, Responder, Bidder

  • Office of Management and Budget (OMB)

    A government agency, in the Executive Office of the President of the United States, that serves as the President’s principal arm for exercising the managerial functions of the Presidency. OMB strives to improve government organization, information, and management systems and devises programs for career executive talent throughout the government. OMB assists the President in preparing the annual budget and in overseeing its execution. (Nash, Schooner, & O’Brien, 1998)

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