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: 11-20 of 118 results for “M”

  • Management Reports

    A technique used to measure progress or to control procurement activities from collected data. These reports enable both procurement officials and managers to assess progress and readjust activities to accomplish the goals and objectives of the organization.

  • Mandatory

    Obligatory, required by order, a provision that may not be waived.

  • Mandatory Requirements (Conditions)

    May apply to Request for Proposals (RFP) and Invitation for Bids (IFB), and are conditions set out in the scope of work/specifications that must be met without alteration. Mandatory requirements should be clearly identified. Not meeting mandatory requirements may be grounds for disqualification of a bid or proposal.

  • Manifest

    An itemization usually provided by the carrier that details the items included in a particular shipment. A bill of lading or an itemized listing of cargo. (ISM, 2000)

  • Manufacturer

    A person or business entity that creates, makes, processes, or fabricates a product or something of value that changes a raw material or commodity from one form to another or creates a new product or commodity. (Business, 2002)

  • Manufacturer Code

    CANADIAN A numeric code assigned by respective government agencies to organizations that are sources of supply for items produced. The code numbers are also assigned to government manufacturing equipment or to certain special non-manufacturing organizations.

  • Manufacturer's Price List

    A price list published in some form by the manufacturer and available to and recognized by the trade. The term does not include a price list prepared especially for a given ​bid.

  • Marginal Propensity to Consume (MPC)

    The fraction of each additional dollar of disposable income spent on consumption; the change in consumption divided by the change in disposable income. (Schiller, 2000)

  • Marginal Propensity to Save (MPS)

    The fraction of each additional dollar of disposable income not spent on consumption. (Schiller, 2000)

  • Marine Insurance

    Insurance covering loss or damage of goods at sea. (Ferrell & Hirt, 2002)