Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 61-70 of 80 results for “T”

  • Transaction

    In computer science, a group of logical operations that must all succeed or fail as a group. Systems dedicated to supporting such operations are known a transaction processing systems. Examples would include bill payment, credit card processing.

  • Transaction Cost Reduction

    Activities or process changes that decrease the cost to process a purchase order or a payment transaction. Procurement credit cards are an example of a transaction cost reduction.

  • Transactional Leadership

    A leadership prospective based on give and take. A transactional leader provides efficiency by securing resources to get the objective completed. A transactional leader links performance to reward. Transactional leaders accept the goals, structure, and culture of the existing organization.

  • Transactional Relationships

    A phase in the continuum of buyer-seller relationships, it is the most common and basic relationship. The term describes an arm’s length relationship wherein neither party is concerned with the well-being of the other. Each transaction is entered into on its own merits. Little or no basis exists for collaboration and learning. (Burt, Dobler, & Starling, 2003)

  • Transfer

    CANADIAN Anything given to another person or organization with no expectation that it will be returned. When a materiel item is transferred custodial control is also transferred to the receiving program manager.

  • Transformational Leadership

    A leadership theory that involves leaders who are charismatic and visionary and can inspire followers to transcend their own self-interest for the good of the organization. These leaders appeal to the follower’s ideals and moral values and inspire them to think about problems in new or different ways. The leader exhibits vision, which is the ability to bind people together with an idea. Transformational leadership has a lower turnover rate, has higher productivity rates, and maintains a higher employee satisfaction. 

  • Transit Charges

    Charges made for services rendered while a shipment is in transit.

  • Transition Plan

    A formal, written contract protocol that establishes the approach for planning and managing the interim period between the beginning of a contract and its expiration.

  • Transparency

    In an ethical context, the idea that the more information disclosed about a business, financial, or economic activity, the better. Transparency improves ethical conduct. Maximum disclosure is for the betterment of the public and will help to discourage more regulation. (Martin & Miller, 2006)

  • Transponder

    A device that responds to and transmits radio waves. May be used in a variety of supply management applications such as smart cards, procurement credit cards, inventory tracking, and Radio Frequency Identification (RFID).