Dictionary of Procurement Terms

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  • Delphi Method

    A forecasting method that utilizes a panel of experts who are polled repetitively in writing or over the Internet to develop a consensus prediction of future anticipated conditions. (Business, 2002)

  • Demand

    The willingness and ability to buy specific quantities of goods at alternative prices in a given time period. (Schiller, 2000)

  • Demand Analysis

    An all-inclusive method conducted to quantify, with reasonable accuracy, the anticipated agency material requirements that will be needed to support the agency’s operations.

    See Also: Market Analysis, Supplier Analysis

  • Demand Contract

    A binding legal agreement that links spend data by dates and allows for rebates and discounts through automated contract management systems. Pricing is based on historical usage. A contract under which a contractor/supplier agrees to provide goods or services to a purchaser on a demand basis.

    See Also: Market Analysis, Blanket Order

  • Demand Curve

    A curve describing the quantities of a good a consumer is willing and able to buy at alternative prices in a given time period. (Schiller, 2000)

  • Demand Deposit

    An amount on deposit in a checking account. (Schiller, 2000)

  • Demand Elasticity

    An economic term used to describe the sensitivity of demand to price changes. An example is the impact on demand of price changes in petroleum products. (Schiller, 2000)

  • Demand Level

    The amount of inventory required for a given item.

  • Deming, W. Edwards

    Most influential quality guru of the last century. Best known for his 14 points summarizing the philosophy of quality management he developed while working with Japan following WWII. (Burt, Dobler, & Starling, 2003)

  • Demobilization

    The effort of a construction contractor in leaving the site after the contract work is completed. See also Mobilization. (Nash et al., 2007)

    See Also: Mobilization

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