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: 2051-2060 of 2469 results

  • Scarcity

    The fact that available resources are insufficient to satisfy all desired uses thereof. An economic indicator that drives prices higher. (Bishop, 2004)

  • Scenario Analysis

    An important technique in risk management, whereby various possible scenarios are developed based on best to worse outcomes. May be applied to procurement situations to achieve effective future planning. It is a tool used to anticipate the future and plan accordingly. (Martin & Miller, 2006)

  • Schedule Contract

    A contract that consolidates agency requirements by pre-establishing a ​bid opening date and requiring using agencies to submit requirements by a specified time. Also called schedule purchase.

  • Schedule of Events

    Also referred to as a “timetable or timeline.” It identifies the projected milestones in the procurement process from the beginning of the procurement to its finalization.

  • SCM


    See Also: Supply Chain Management (SCM)

  • SCMA™


    See Also: Supply Chain Management Association (SCMA)™

  • Scope of Work

    A scope of work is developed at the beginning of the procurement cycle and is a written description of the entity’s needs and desired outcomes for the procurement and becomes the basis for any resulting solicitation. The scope of work helps to ensure that the product or service meets the stated outcome and establishes the parameters of the resulting contract.

  • SCPA


    See Also: Supply Chain Pollution Avoidance (SCPA)

  • Scrap

    Salvageable materials that are damaged, defective, deteriorated, or residue from operations with market value. The value exceeds the selling expense and the materials are sold.

    See Also: Rubbish, Waste

  • Sealed Bid

    A formal submission from a bidder submitted in response to an Invitation for Bids (IFB). It is submitted in a sealed envelope to prevent its contents from being revealed before the time and date set for the bid opening.

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