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: 1581-1590 of 2469 results

  • Official Responsibility

    Direct administrative or operating authority, whether intermediate or final, either exercised alone or with others, either personally or through subordinates, to approve, disapprove, or otherwise direct governmental action.

  • Offshoring

    A form of corporate downsizing and outsourcing, where manufacturing and other business processes are moved abroad to improve profit by taking advantage of lower labor costs and other expenses which may be more favorable in the host country. (Business, 2002)

  • Oligarchy

    A market situation in which a few companies control or dominate the market for a product or service.

  • Oligopoly

    A market in which few firms produce all or most of the market supply of a particular good or service. (Schiller, 2000)

    See Also: Imperfect Competition

  • OMB


    See Also: Office of Management and Budget (OMB)

  • OMB Circular A-102

    “Grants and Cooperative Agreements with state and local governments.” This Circular establishes consistency and uniformity among federal agencies in the management of all federal cooperative agreements and grants with state and local governments. The 1988 version revised the 1981 version and rescinded Attachments A through P of the Circular.

    See Also: Uniform Administrative Requirements for Grants in Aid to States and Local Governments

  • OMB Circular A-110

    “Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and other Non-Profit Organizations.” Issued by the Office of Management and Budget (OMB), this Circular governs the administration of purchases made by institutions of higher education, hospitals, and other non-profit organizations with federal funds.

  • On Order

    CANADIAN The quantity of stock represented by the total of all outstanding replenishment orders that have been requested from stock, but not yet delivered or received.

  • One Hundred Percent (100%) Inspection

    Inspection of every unit of product, each of which is accepted or rejected individually for the characteristics inspected.

  • Online Transaction Processing

    Processing of transactions that occurs interactively between the system and the end user. (IBM)

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