Dictionary of Procurement Terms

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Search Results: 21-30 of 214 results for “S”

  • Schedule Contract

    A contract that consolidates agency requirements by pre-establishing a ​bid opening date and requiring using agencies to submit requirements by a specified time. Also called schedule purchase.

  • Schedule of Events

    Also referred to as a “timetable or timeline.” It identifies the projected milestones in the procurement process from the beginning of the procurement to its finalization.

  • SCM


    See Also: Supply Chain Management (SCM)

  • SCMA™


    See Also: Supply Chain Management Association (SCMA)™

  • Scope of Work

    A scope of work is developed at the beginning of the procurement cycle and is a written description of the entity’s needs and desired outcomes for the procurement and becomes the basis for any resulting solicitation. The scope of work helps to ensure that the product or service meets the stated outcome and establishes the parameters of the resulting contract.

  • SCPA


    See Also: Supply Chain Pollution Avoidance (SCPA)

  • Scrap

    Salvageable materials that are damaged, defective, deteriorated, or residue from operations with market value. The value exceeds the selling expense and the materials are sold.

    See Also: Rubbish, Waste

  • Sealed Bid

    A formal submission from a bidder submitted in response to an Invitation for Bids (IFB). It is submitted in a sealed envelope to prevent its contents from being revealed before the time and date set for the bid opening.

  • Search Costs

    The economic cost associated with finding the right product or service. (Bishop, 2004)

  • Seasonal Unemployment

    Unemployment due to seasonal changes in employment or labor supply. (Schiller, 2000)