Dictionary of Procurement Terms

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  • Shelf Life

    The length of time that an item of supply can be stored under specified environmental conditions and continue to remain suitable for its intended use.

  • Sherman Antitrust Act (U.S. Law)

    Passed by Congress in 1890, it prohibits contracts and conspiracies in restraint of trade, conspiracies to monopolize trade, and attempts to monopolize. The act makes price fixing, bid rigging, territorial market allocation, and some types of tying arrangements and boycotts illegal. (Business, 2002)

    See Also: Price Fixing, Tying Arrangement, Clayton Act (The Clayton Anti-Trust Act) (U.S. Law)

  • Shipper’s Load and Count

    Where the contents of a Conveyance were loaded and counted by the shipper, and not checked or verified by the transportation agency.Where the contents of a conveyance were loaded and counted by the shipper, and not checked or verified by the transportation agency.

  • Shipping

    The activities performed in preparation of the outgoing shipment of products and material, which may include packaging, marking, weighing, and loading for shipment.

  • Shipping List

    A memorandum that includes all items shipped at one time on a given order.

  • Short List

    Names of candidates that have been narrowed considerably from a longer list of top-ranked or top-scored offerors.

  • Shortage

    The situation resulting when the quantity demanded exceeds the quantity supplied of a good or service, usually because the price is for some reason below the equilibrium price in the market. Shortages generally drive up prices and create a seller's market. (Schiller, 2000)

  • Show Cause Notice

    A written notice issued to a contractor when termination for default appears to be appropriate or imminent. It provides the contractor with an opportunity to explain why the contract should not be terminated for default. If the contract breach or poor performance is not corrected, the entity may subsequently issue a termination for default.

  • Shrinkage

    Refers to inventory that is lost, stolen, misplaced or otherwise unaccounted for.

  • SIC Code


    See Also: Standard Industrial Classification (SIC) Code

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