Dictionary of Procurement Terms

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Search Results: 161-170 of 248 results for “P”

  • Procurement System Review

    An audit of the procedures of the procurement system of the governmental entity. For federal agencies, OMB Circular A-102 provides guidance.

  • Producers

    People who use resources to make goods and services. (Ferrell & Hirt, 2002)

  • Producers Price Index (PPI)

    A measurement tool compiled by the U.S. Bureau of Labor Statistics reflecting the average change in prices charged by producers during a given time period, compared to those charged in a base year. The PPI measures inflation at earlier stages of the production and marketing process than does the Consumer Price Index. (ISM, 2000)

  • Product Differentiation

    Features that make one product appear different from competing products in the same market. Automobiles and breakfast cereal are examples of markets that have products that are greatly differentiated for consumer choice. (Business, 2002)

  • Product Identification

    CANADIAN An identifier that is unique for a given product. It may be any combination of the following A NATO stock number, a Supplier’s part number, a Supplier’s catalog number and GSIN code.

  • Product Launch

    The introduction of a new product into a market. The beginning stages of the product life cycle. (Ferrell & Hirt, 2002)

  • Product Life Cycle

    A product generally has the following life cycle stages: introduction, growth, maturity, and decline.

  • Product-Resource-Operating-Contingent (PROC)

    CANADIAN Identifies four types of costs (product, resource, operating, and contingent) used to identify all costs associated with a requirement over its useful life to determine the best value.

  • Production

    The making of goods available for use; total output, especially of a commodity or industry. (Schiller, 2000)

  • Productivity

    Output per unit of input, e.g., output per labor hour. (Business, 2002)