Dictionary of Procurement Terms

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Search Results: 81-90 of 214 results for “S”

  • Small Business Administration (SBA)

    An independent agency of the Federal Government that offers managerial and financial assistance to small businesses. The SBA mission is to maintain and strengthen the nation’s economy by aiding, counseling, and assisting the interests of small businesses. (U.S. Small Business Administration)

  • Small Disadvantaged Business

    Firms that meet the following criteria: The firm must be 51% or more owned and controlled by one or more disadvantaged persons, the disadvantaged person or persons must be socially disadvantaged and economically disadvantaged, and the firm must be small, according to the Small Business Administration's (SBA) size standards. (SBA, 2016)

    See Also: Historically Underutilized Business (HUB), Minority-Owned Business Enterprise (MBE), Woman-Owned Business Enterprise (WBE), Economically Disadvantaged Individuals

  • Small Purchase

    Any procurement not exceeding a given upper monetary limit, as established by law, regulation, executive order, etc. Usually applies to purchases of small dollar amounts under a certain monetary threshold.

  • Smart Card (Smartcard)

    A smart card is a device that includes an embedded integrated circuit that can be either a secure microcontroller or equivalent intelligence with internal memory or a memory chip alone. The card connects to a reader with direct physical contact or with a remote contactless radio frequency interface. With an embedded microcontroller, smart cards have the unique ability to store large amounts of data, carry out their own on-card functions (e.g., encryption and mutual authentication) and interact intelligently with a smart card reader. (Smart Card Alliance, 2016)

  • SME


    See Also: Subject-Matter Expert (SME)

  • Smith, Adam

    Economist (1723-1790) who stressed the importance of the “invisible hand” of competition in a free market. He wrote that technical progress and capital investment were the main engines of economic growth. (Bishop, 2004)

  • Social Costs

    The full resource costs of an economic activity, including externalities. (Schiller, 2000)

  • Social Responsibility

    The obligation of an organization to maximize its positive impact on society. (Schiller, 2000)

  • Society of American Value Engineers (SAVE)

    An international society devoted to the advancement of value methodology. Value methodology benefits include decreasing costs, increasing profits, and improving quality.

  • Society of Logistics Engineer (SOLE)

    A non-profit international professional society composed of individuals, organized to enhance the art and science of logistics technology, education, and management.