Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 2191-2200 of 2469 results

  • Stop Work Order

    Written notice to the contractor to immediately stop all work. Work cannot resume until the stop work order is removed.

  • Storage

    1. The act of storing, or state of being stored, in a designated storage place for safekeeping. 2. A function of ​warehousing that involves the receipt, putting away, and subsequent retrieval of an item. 3. Specific to technology, a computer memory that retains data for some period of time. Storage can be categorized in many ways such as primary or secondary; read-only, random access, and magnetic storage.

  • Stores Accounting

    The act of recording the details of ​stock movements and balances in value.

  • Stores Management

    To provide for the efficient storage and handling of goods to be redistributed to the using agencies.

  • Straight Bill of Lading

    A contract document which provides for direct shipment to a consignee.

  • Straight-Line Depreciation

    A form of depreciation in which the cost of a fixed asset is spread equally over each year of its anticipated lifetime. (Business, 2002)

  • Strategic Alliance (SA)

    An agreement between two or more entities to cooperate in a specific business activity, so that each benefits from the strengths of the other and gains competitive advantage. (Business, 2002)

  • Strategic Plans

    Documents that establish the long-range objectives and overall strategy or course of action by which an organization fulfills its mission. (Business, 2002)

    See Also: Tactical Planning

  • Strategic Procurement Planning (SP2)

    The transformation of the entity’s mission, goals, and objectives into measurable activities to be used to plan, budget, and manage the procurement function within the entity. The ultimate goal is to effectuate positive change in organizational culture, systems, and operational processes.

  • Strategic Sourcing

    A systematic continuous improvement process that directs supply managers to assess, plan, manage, and develop the supply base in line with the entity’s stated objectives. It involves the constant re-evaluation of purchasing activities to ensure alignment with long-term organizational goals.

Advertisement

Advertisement