Dictionary of Procurement Terms

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Search Results: 141-150 of 248 results for “P”

  • Pro-Forma Invoice

    An invoice received before the purchase informing the buyer of the terms of sale. Often applicable to foreign purchases as the buyer’s proof of a future purchase to support the buyer’s request to governmental authorities for import permits and foreign exchange.

  • Probity

    CANADIAN Integrity and uprightness. Uncompromising adherence to the laws, regulations, and policy imperatives concerning government Contracting. An ethical course of action.

  • PROC (Product-Resource-Operating-Contingent)

    CANADIAN See Product-Resource-Operating-Contingent.

  • Procedure

    The detailed series of related activities that must be completed, and the order in which they must be done, to accomplish a given task.

  • Process Control

    The inspection of work-in-progress to provide feedback on, and correct a production process. A quality control technique used in manufacturing. (Business, 2002)

  • Process Improvement

    The increase in value (or decrease in applicable costs) resulting from a modification in any phase of the purchasing and/or supply process. (Crimi & Kaufman, 2003)

  • Process Knowledge

    A knowledge sharing trend in entities that proactively fosters collaboration, sharing of knowledge, and organizes around customer-centric processes by encouraging workers to form collaborative teams responsible for the completion of an entire process from end to end. This system organizes workflow to support cross-functional business processes that emphasize the importance of sharing product-related and process-related knowledge across functional boundaries.

  • Process Mapping

    An examination of the steps, activities, and interrelationships associated with performing a specific task. This tool is used in business process reengineering to determine where processes can be enhanced or minimized to improve efficiencies. (ISM, 2002)

  • Procurement

    Purchasing, renting, leasing, or otherwise acquiring any supplies, services, or construction; includes all functions that pertain to the acquisition, including description of requirements, selection, and solicitation of sources, preparation and award of contract, and all phases of contract administration. The combined functions of purchasing, inventory control, traffic and transportation, receiving, inspection, storekeeping, salvage, and disposal operations.

  • Procurement Card (pCard)

    A payment method whereby internal customers (requisitioners) are empowered to deal directly with suppliers for purchases using a credit card issued by a bank or major credit card provider. Generally, a pre-established credit limit is established for each card issued. The cards enable eProcurement and facilitate on-line ordering, frequently from pre-approved suppliers under blanket contracts. (Martin & Miller, 2006)