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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  • Consumer Price Index (CPI)

    A measure of changes in the average price of consumer goods and services. A price index constructed monthly by the U.S. Bureau of Labor Statistics that provides a statistical measure of the average change in prices in a fixed market basket of goods and services. It is frequently called a cost-of-living index.

  • Consumer Product Safety Commission (CPSC)

    Independent federal agency created in 1972 to develop and enforce product standards, conduct research, and inform consumers to ensure their safety in the use of consumer products. (ISM, 2000)

  • Consumerism

    All activities undertaken to protect the rights of consumers. (Business, 2002)

  • Consumption

    Expenditures by consumers on final goods and services. The using up of goods and services by consumer purchasing. Consumer spending on goods and services produced by the economy in a given period. In macroeconomics, the total spending, by individual or a nation, or consumer goods during a given period. (Schiller, 2000)

  • Consumption Rate

    The pace at which items are used or expended during a given time interval.

  • Container

    A truck trailer body that can be detached from the chassis for loading onto a vessel, a railcar, or stacked in a container depot. They come in various lengths between 20’ and 53’. (Business, 2002)

  • Containerization

    The process of packing goods in very large, separate containers (sometimes referred to as “cubes”) for shipment to a final destination. Container shipment may be via ship, rail, or truck.

  • Contingency Planning

    Planning that applies to issues resulting from a crisis, emergency, or interruption of a critical service.

  • Contingent Fee

    A commission, percentage, or other fee that is conditional upon the success that a person or concern has in securing a contract.

  • Continuity of Operations Plan (COOP)

    A detailed strategy developed to ensure the continuation of essential functions during an emergency that result in the inability of the organization to provide essential services to its constituents. The COOP must be a fluid and dynamic plan capable of being immediately adjusted and modified depending on the situation. A well-developed COOP addresses the people, processes, systems, and infrastructure elements that will be needed to continue to perform essential functions during a disaster or emergency situation. Also referred to as Business Continuity Plan.

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