The oboloo Team

The Restriction of Hazardous Substances (RoHS) is a European Union directive aimed at reducing the use of hazardous materials in electrical and electronic equipment. It applies to all equipment placed on the market within the EU/EEA, including products sold online. Procurement teams must be aware of these regulations when selecting suppliers and sourcing products, as […]

Return on investment (ROI) measures the effectiveness of an investment by ascertaining the net gain or loss relative to the amount of money invested. In procurement, this typically refers to the cost savings achieved through a particular purchase compared to the initial cost. This calculation helps organizations and businesses assess the efficiency and potential profitability […]

Return on Net Assets (RONA) is a metric used to measure the effectiveness of a company’s procurement activities. It is calculated by taking the net profits of a business divided by the total assets of the same business. RONA is a valuable tool for gauging the profitability of a business’s purchasing efforts and can be […]

The Retail Price Index (RPI) is an official index used to measure changes in the prices of goods and services purchased by consumers. It serves a number of important purposes in the business world, including helping businesses monitor their costs of production, setting inflation rates for wages, and providing key data points for contract negotiations. […]

Road Safety Impact Assessment (RSIA) is a professional procedure that evaluates the potential impact of a given project or initiative on the safety of road users. By performing an RSIA, decision makers are able to determine the likelihood and severity of potential risks posed by said project or initiative. The assessment should identify existing hazards, […]

The Right-to-Know Law (RTKL) is a law that provides business owners and members of the public with access to public records containing information related to procurement activities. RTKL ensures that all documents generated as part of the procurement process are made available upon request. This includes records such as contracts, bids, invoices, purchase orders, vendor […]

Route to procurement (RTP) is a formal term used in business that outlines the process of acquiring goods and services. It includes requirements for analyzing potential suppliers, creating a plan of action for selection and negotiation, and ultimately signing a contract or purchase order. RTP is an organized, systematic approach to making sure all available […]

Sales & Operations Planning (S&OP) is an essential part of procurement operations in many companies. It is a systemic process that helps to align the tactical goals of sales, operations, finance, and management teams with a unified strategy for meeting consumer demand. S&OP leverages data insights to balance supply and demand on both short-term and […]

S2C, or Source-to-Contract, is the complete procurement process from sourcing and selecting suppliers to signing contracts. It delivers measurable value to businesses through efficiency gains and cost savings. The S2C approach involves a multi-phase process which begins with preliminary market research. This informs the organization’s strategic objectives, requirements, and selection criteria for potential suppliers. After […]

Source-To-Pay (S2P) is a comprehensive, end-to-end procurement process from supplier selection to the payment of invoices. It involves the coordination and control of all activities related to generating purchase orders, receiving goods and services, paying associated invoices, and obtaining relevant documents from vendors. By streamlining and automating procurement processes, S2P can reduce costs and increase […]

Software as a Service (SaaS) is a type of cloud computing software delivery model that allows procurement services to access applications over the Internet. It eliminates the need for on-premise software installations and updates, allowing users to rent or subscribe to a particular application instead of purchasing it outright. With SaaS, all hardware and software […]

The Single Administrative Document (SAD) is an official document utilized by customs authorities in the European Union to facilitate the import and export of goods within and from EU member states. This document is required for any international trade transactions, including those of a commercial nature, as it identifies the movement between parties and serves […]

Small Business (SB) and Small Business Enterprise (SBE) refer to government-certified businesses of a certain size, as defined by the US Small Business Administration. These businesses meet the criteria for a small business based on factors such as number of employees, revenue, yearly income, and other criteria. These businesses must adhere to specific procurement guidelines […]

The United States Small Business Administration (SBA) is a government agency that is charged with providing assistance to small businesses and promoting their growth and success. The SBA provides numerous services to help entrepreneurs launch and manage their businesses, including loan guarantees and business counseling, as well as access to various contracts and grants designed […]

The Small Business Procurement Initiative (SBPI) is a federal program which encourages the use of small businesses by providing incentives for contracting agencies to work with small businesses. SBPI encourages eligible businesses to offer competitively priced products or services that meet the requirements of a particular project, and incentivizes procurement officers to give preference to […]

Supply Base Reduction (SBR) is a business strategy employed in procurement to streamline and optimize a company’s supplier relationships. The primary goal of SBR is to reduce the number of suppliers in an organization’s vendor base, while still ensuring that the quality of goods and services remains consistent. By reducing the number of suppliers, companies […]

The State Civil Service Commission (SCSC) is an independent body charged with the responsibility of ensuring that public employees are hired, evaluated, compensated, and promoted on the basis of merit. It monitors all civil service activities conducted by state agencies to guarantee objectives of fairness, inclusiveness, and equity. Additionally, it administers a rigorous examination process […]

Small Diverse Business (SDB) is a term used to describe businesses owned by minorities, women, veterans, and people with disabilities who wish to participate in the procurement process. SDB’s are typically smaller-scale companies or organizations that demonstrate exceptional skill and dedication in their respective fields. By doing business with SDB’s, governments and other organizations can […]

Sustainability Development Goals (SDGs) are a set of 17 universal objectives that were adopted by all United Nations’ countries in 2015 as a way to address the global challenges facing humanity. The SDGs provide a roadmap for governments, businesses and citizens worldwide to take practical steps towards building a sustainable future. In procurement, it means […]

A Service-Disabled Veteran-Owned Business Enterprise (SDVBE) is an organization that is owned and operated by a service-disabled veteran in the United States. These businesses are a unique type of small business, providing opportunities for economic development for disabled veterans and their families. To be eligible to qualify as a SDVBE in government procurement, organizations must […]

SDVOSB stands for Service-Disabled Veteran-Owned Small Business and is a designation that helps identify businesses owned by veterans who have been disabled while serving. SDVOSBs are eligible to receive federal government contracts as part of the small business set-aside program in the United States. This designation not only provides these veteran-owned businesses with access to […]

SIC (Standard Industrial Classification ) The Standard Industrial Classification (SIC) is a system used to classify industries by a four-digit code. It was developed by the U.S. government in the 1930s, and it reflects the primary activity of a business or organization in order to categorize and track data for analysis and reporting purposes. This […]

A Stock Keeping Unit (SKU) is a business term used to denote unique product specifications within inventory procurement. SKUs are used by organizations to track and manage products in their inventory, enabling accurate and efficient management of stock levels. By assigning an individual SKU to every item in your catalogue or inventory, it becomes easier […]

SLA (Service Level Agreement) A Service Level Agreement (SLA) is a legally binding contract between a service provider and a customer that specifies the services and levels of service to be provided. The SLA outlines the responsibilities of each party, the duration of the agreement, any standards or requirements, and the procedures for resolving disputes […]

SMART (Specific, Measureable, Achievable, Realistic, Time-bound) SMART is an acronym used in procurement and other business activities to ensure objectives are specific, measureable, achievable, realistic, and time-bound. By adhering to the SMART framework, organizations can set attainable goals and identify milestones that will enable them to monitor progress in order to stay on track and […]

Subject Matter Experts (SMEs) are professionals who have specialized knowledge and experience in a particular field or sector. In the context of procurement, SMEs are consulted to assess and validate product requirements and provide guidance on the most cost-effective solutions. By leveraging their expertise, companies can ensure that their selection criteria are valid and reliable, […]

Small & Medium-sized Enterprises (SMEs) are businesses with fewer than 250 employees and an annual turnover of less than €50 million. SMEs often face particular challenges when procuring goods and services, due to their size and limited resources. As such, they require dedicated strategies for efficient procurement procedures to ensure they can access the best […]

A Statement of Work (SOW) is an official document used in the procurement process that outlines the expectations and scope of a given project. It is typically prepared by the contracting party to serve as a blueprint for contractors to follow, detailing all deliverables required, associated costs and deadlines. The SOW provides the framework for […]

SRM (Supplier Relationship Management) Supplier Relationship Management (SRM) is an official business process used by organizations to improve the relationship between a buyer and its suppliers. It focuses on creating better relationships between buyers and suppliers that result in increased business performance, improved quality of goods and services, satisfaction in supplier partnerships, and cost savings […]

The Social Security Number (SSN) is a nine-digit code issued by the United States government to individuals for the purpose of tracking their employment and financial transactions. In procurement, SSNs are used to verify either the identification or the eligibility of individuals for contracts or other services being procured. It is important to use SSNs […]

STS stands for Single Transaction Summary, a document used in procurement to provide an overview of an entire transaction within one report. A STS report can be generated at any time, providing detailed information about the cost and scope of goods or services included in a specific transaction. The purpose of this document is to […]

Social Value is the additional benefit resulting from investments, initiatives and activities that go beyond the direct delivery of services or products. This value may be generated for the local community, society as a whole, or both. The aim of Social Value in procurement is to ensure contracts are awarded responsibly and with consideration to […]

SVRQ (Standard Vendor Responsibility Questionnaire) The Standard Vendor Responsibility Questionnaire (SVRQ) is a tool used in procurement to assess the suitability and readiness of vendors prior to awarding contracts. The SVRQs allow buyers to fairly evaluate potential vendors on important categories such as work experience, financial history, insurance coverage, and references. This ensures that only […]

SWOT (Strengths, Weakness, Opportunities & Threats) SWOT stands for Strengths, Weaknesses, Opportunities and Threats. In procurement, it is a comprehensive analytical tool used to assess the current and potential performance of an organization’s business strategy. It entails examining internal strengths and weaknesses in order to identify external opportunities and potential threats. By assessing these four […]

Time & Materials (T&M) is an official business definition of a contractual arrangement in which payments are based on the actual process value of labor and materials used for completion of work. This type of procurement agreement typically involves services which are characterized by unique or variable scope that cannot be easily specified in advance, […]

The Technical Architecture Review Board (TAR) is a procurement process used to acquire products and services for professional business needs. The TAR board reviews vendor proposals and makes the final selection based on technical functionality, cost-effectiveness, quality of services, risk assessment, implementation strategy, and time-to-market. The TAR Board is comprised of representatives from diverse departments […]

TCO (Total Cost of Ownership) Total Cost of Ownership (TCO) is a metric used in procurement to measure the total cost of an asset or project over its entire life cycle. TCO captures more than just the upfront purchase cost of an asset; it also takes into account associated costs such as maintenance, operation, and […]

TCS (Telecommunication Connectivity Services) Telecommunications Connectivity Services (TCS) are internet and/or phone services used to facilitate communication between two or more parties. This includes, but is not limited to, voice services, data transmission, video conferencing, and cloud computing. TCS are used by businesses of all sizes for a variety of purposes such as internal communications, […]

Truck Load (TL) is a procurement term used to describe the full load capacity of a single truck. A TL is typically measured by volume or weight, depending on the kind of goods being shipped. A single truck may be able to carry multiple TLs on a single route or shipment. The TL metric is […]

The Toyota Production System (TPS) is an integrated approach to manufacturing and logistics. It seeks to reduce costs and improve efficiency through the use of standardized processes, optimized workflow, short delivery times, and highly motivated employees. TPS works by breaking down the barriers between departments, such as procurement and production. The goal of this integration […]

Total Quality Management (TQL) is a systematic approach to improving business processes, products, and services in order to meet or exceed customer expectations. It focuses on optimizing quality throughout the organization, from procurement of raw materials all the way through to delivery of the final product. TQL requires active participation from all levels of the […]

Terms and Conditions, or Ts & Cs, are clauses that outline the responsibilities of multiple parties in a contractual agreement. These may include specifications about payment, delivery, liability, termination, and more. The purpose of Ts & Cs is to ensure that all parties involved understand their obligations and avoid any potential disputes or misunderstandings. By […]

Terms and Conditions (T&Cs) in procurement refer to a set of agreements between two parties outlining the legal obligations of each. They include things like payment terms, delivery timelines, ownership rights, liabilities and warranties, and any other essential details of the agreement. By signing and agreeing on these T&Cs, both parties are held accountable for […]

Third sector organizations (TSOs) are non-governmental and non-profit entities such as charities, voluntary organisations, social enterprises, and co-operatives. These organizations aim to achieve “social good” by delivering services that improve the lives of local communities. They operate independently from governments or commercial businesses and often provide an important public service. In the context of procurement, […]

Tank Wagon (TW) is a term used in procurement to refer to an automobile or truck with a tank or reservoir for the purpose of transporting and dispensing liquids, gases, or other materials. It is typically used for the transport of large quantities of hazardous materials, such as fuel, chemicals, or biobased products. TWs are […]

UAT (User acceptance testing) User Acceptance Testing (UAT) is a quality assurance process in which an individual or group of individuals tests a product, service, or system to identify any potential issues that may arise with its implementation before it is made available. UAT ensures the product meets the needs and expectations of the end […]

The Uniform Commercial Code (UCC) is a set of laws governing commercial and business transactions in the United States. It is an incredibly comprehensive code which covers everything from contracts to sales to financing arrangements. In the context of procurement, the UCC describes the various legal processes, responsibilities, and regulations that govern the sale and […]

The Unified Certification Program (UCP) is a business procurement system designed to streamline and simplify the process of acquiring goods and services. It enables businesses to access a large network of vendors who have been certified to meet specific standards by the National Institute of Standards and Technology. This certification guarantees that products purchased through […]

The United Nations Standard Products and Services Code (UNSPSC) is a hierarchically structured international classification system used to describe products, services, and research activities. It provides a unified, comprehensive, and global framework for clearly identifying all products and services within the procurement process. It helps reduce ambiguity while providing an efficient way for buyers and […]

The United Nations Standard Products and Services Code (UNSPSC) is a global hierarchy of product and service categories used for procurement. Developed by the United Nations Statistics Division, it is an efficient way to classify goods and services in global procurement processes. UNSPSC is divided into four levels: Segment, Family, Class and Commodity/Service. These levels […]

The Universal Product Code (UPC) is a standard barcode system used prominently in the retail industry for purchasing and record-keeping purposes. UPCs contain 11 or 12 digits that identify a specific product, such as its manufacturer, size, and type. This helps retailers to quickly and accurately process products at checkout, as well as keep track […]

The Universal Public Procurement Certification Council (UPPCC) is an independent, globally recognized authority that provides certifications to industry professionals in the public procurement sector. Their mission is to ensure that public procurement processes are conducted with the highest levels of professional responsibility, integrity, and ethical standards. UPPCC certification recognizes individuals who have demonstrated a commitment […]

The United States Code (USC) is a codification of the general and permanent laws of the United States organized into titles according to subject matter. It serves as a comprehensive reference for all federal laws in areas such as public contracts and procurement, intellectual property, taxation, transportation, communications, banking-related law, and veteran’s benefits. The USC […]

Value Added Resellers (VARs) are third-party companies that partner with original equipment manufacturers (OEMs) to sell software, hardware and other related services. VARs play an important role in the procurement process by providing specialized expertise on specific products or services which can help a company make informed decisions. VARs also serve as intermediaries between OEMs […]

Value added tax (VAT) is an indirect consumption tax imposed on the sale of goods and services within a country. In procurement, VAT is generally charged at the end of the purchasing process, adding to the total cost of a purchase. As it is an indirect tax, businesses are entitled to claim back any fees […]

A Veteran Business Enterprise (VBE) is a procurement designation that identifies businesses that are owned or controlled by veterans. It includes service-disabled veteran-owned businesses, veteran-owned businesses, and companies owned by veterans in the reservist component of the U.S. military. The designation ensures that these businesses have access to federal contracts and other opportunities to support […]

The Veteran’s Business Verification Program (VETBIZ) is a government initiative designed to empower veteran-owned businesses and service-disabled veteran-owned small businesses (SDVOSBs) by providing access to contract opportunities. This program, governed by the Small Business Administration (SBA), is intended to strengthen the economic livelihood of veteran entrepreneurs and promote greater competition in the procurement process. In […]

Value for Money (VFM) is a procurement term used to refer to the most cost-efficient and effective means of providing goods and services. VFM is achieved by identifying and pursuing opportunities for cost savings, optimizing contracts, or leveraging additional value from suppliers through collaborative approaches. Using VFM principles enables organizations to maximize the return on […]

A Vendor Identification Number (VIN) is a unique numerical identifier used by organizations in procurement and data management operations. It serves as an essential “fingerprint” for cataloguing goods, services, and contracts associated with vendors. The VIN is a critical component of any vendor relationship, allowing for the identification and tracking of orders, invoices, payments, collections, […]

Volatile Organic Compounds (VOCs) are organic chemicals with a high vapor pressure at ordinary room temperature. In the context of procurement, VOCs refer to substances found in industrial processes that have potential risks in terms of environmental and health concerns. Common sources of VOCs include fuel storage tanks, paint cans, and petroleum-based products. It is […]

Veteran-Owned Small Business (VOSB) is a term used in procurement to refer to a small business that is at least 51 percent owned, managed and controlled by one or more veterans of the U.S. military. VOSBs are eligible to receive certain benefits when bidding on federal government contracts, including a competitive edge over other businesses […]

The Weighted Average Cost of Capital (WACC) is a calculation used by businesses to evaluate their procurement options. It is defined as the rate of return that a business must earn on its financial investments to compensate for the risk taken in procuring those assets. The WACC takes into account the total cost of equity […]

Women Business Enterprises (WBEs) are for-profit companies owned, operated and controlled by women who are US citizens. In the realm of procurement, WBEs are certified companies that provide similar services as minority businesses, however, they lack racial or ethnic certification status. Furthermore, WBEs benefit from increased access to large corporations and government contracts due to […]

The Women’s Business Enterprise National Council (WBENC) is the nation’s leading authority on third-party certification of women-owned businesses, providing a standard for verifying that businesses are 51% owned, operated, and controlled by women. By achieving WBENC certification, women entrepreneurs demonstrate to corporate America that their companies are duly qualified as legitimate business partners in the […]

Workers’ Compensation is an official program that provides financial assistance to workers who suffer from work-related injuries or illnesses. It is managed by the state and typically funded through employer contributions to a claims fund. The purpose of the program is to ensure that employees receive the correct and timely medical care, income replacement, and […]

The Workers’ Compensation Board (WCB) is a national insurance program which provides benefits to workers who are injured, and/or become ill due to their work. The WCB provides financial support for medical treatment, lost wages, death benefits as well as assistance in rehabilitating injured workers and returning them to the workforce. It is an important […]

XaaS, or Anything as a Service, is a means of delivering digital services, such as software, hardware, and platforms, over the internet. It enables organizations to gain access to specialized services on an ‘as needed’ basis without having to purchase licenses or infrastructure. With this model of procurement, businesses can quickly and cost-effectively access the […]

Year-to-Date (YTD) is a business term used to reference the sum of all procurement operations that have occurred during a specific financial year up to the present date. It is an effective way for companies to measure their progress and evaluate the success of their procurement strategies over a given time period. YTD reports provide […]

The Purchaser Notification Service (PNS) is a business process for the exchange of information between buyers and suppliers. It serves as an automated alert system that informs participants in government procurement contracts when an event or milestone has occurred or is about to occur. This notification service enables effective communication by providing timely, relevant information […]

PO (Purchase Order) A Purchase Order (PO) is a legally binding document that initiates the procurement process between a buyer and seller. It serves as an agreement and communication of terms between the two parties, outlining quantities, products, prices, delivery dates, payment terms, and other requirements. The PO also acts as an authorization for the […]

Price On Application (POA) is an official business definition used in procurement. It refers to a pricing arrangement where the cost of an item or service is not specified but available on application. It allows businesses to work with vendors to determine the most competitive and fair price for supplies. POA provides flexibility for company-vendor […]

POWL (Personal Object Work List) POWL, or Personal Object Work List, is a type of procurement that enables professional buyers to identify purchase requirements in the form of a list of objects. The list of items can range from products and services to documents and orders. This procurement process provides buyers with a standardized, efficient […]

The Producer Price Index (PPI) is a metric used to measure and analyze changes in the prices of goods and services sold by producers. It is a prevailing measure of inflation, helping businesses make more informed decisions about pricing and procurement strategies. The PPI takes into account the cost of raw materials, labor, overhead, and […]

Public-Private Partnerships (PPP) are collaborative agreements between a public agency and a private company, typically formed to finance, construct, or operate a public project. A PPP is a contractual arrangement between two or more public and private entities that bring together their respective resources and expertise to achieve shared goals or objectives. The goal of […]

Purchase Price Variance (PPV) is the difference between the price budgeted for an item and the actual price paid for that item. In procurement, PPV can be used to measure the efficiency of purchasing decisions and indicate whether there is adequate control over pricing in the purchasing process. Companies should strive to achieve a PPV […]

Pre-Qualification Questionnaires (PQQs) are documents used to evaluate potential vendors during the procurement process. These questionnaires provide a structured platform for evaluating a vendor’s qualifications, credentials, financial stability, and past successes. Through completion of the PQQ, vendors demonstrate their understanding of the project scope, timelines, budget, and deliverables. Vendors use this as an opportunity to […]

The term PR in procurement stands for Purchase Request, a formal request to purchase goods or services from an external supplier. A PR must include all necessary details regarding the desired item or service, including quantity, specifications, delivery timeframe, and expected cost. This document is used to initiate the purchasing process, with the aim of […]

Procurement Services (PS) is the official business term for activities related to purchasing goods or services. This includes sourcing, negotiating and selecting vendors, and optimizing procurement contracts for the best price and terms while still meeting the needs of the customer. It also involves managing preferred suppliers and getting the necessary approvals. PS helps organizations […]

Plan-to-Procure (PTP) is a structured procurement approach wherein an organization takes a systematic, planned approach to identify and source the right services, goods, or materials necessary to meet its objectives. It involves evaluating current supplier contracts as well as market trends and conditions in order to make informed decisions on the best procurement plan. The […]

A Prior Information Notice (PIN) is an official business document issued by public procurement bodies to promote competition and ensure a fair process for procuring goods, services and works. It provides interested providers of such goods, services and works with the opportunity to present their offers prior to the formal opening of tenders. PINs can […]

PLC (Private limited company) A Private Limited Company (PLC) is a business entity incorporated under the laws of a state or country. It is a limited liability company with fewer owners, often owned by individuals or other legal entities. PLCs are characterized by their independent management and limited transferability of ownership interests. They generally have […]

The Purchasing Memorandum (PM) is an official statement issued by a business or organization, outlining how their purchasing and procurement process should be conducted. It serves to clarify the steps for users of the system to purchase goods or services from outside sources, including details such as payment terms, preferred suppliers, acceptable quality standards, delivery […]

Pre-Market Engagement (PME) is a proactive approach in the procurement process that seeks to engage market participants prior to entering into formal tender activities. PME enables procurers to gain a better understanding of the current state of the market, better inform their procurement strategies, and enhance supplier engagement to meet needs more effectively. Through careful […]

Procurement Guidelines (PG) define the procurement processes and procedures to be followed by an organization. These guidelines are designed to protect the interests of the organization, determine best practices for purchasing decisions, optimize resources and promote accountability and transparency throughout the process. PGs also provide guidance on risk management, quality assurance and selection methods for […]

Piggybacking, or PGB for short, is a term used to describe an arrangement between two entities to collaborate on the procurement of goods or services. Under this agreement, one entity will either act as a bidder or agent on behalf of the other, or both entities may bid simultaneously with an understanding that the successful […]

Procure-To-Invoice (P2I) is an essential part of the procurement cycle that ensures every step involved in procuring goods or services is completed as quickly and efficiently as possible. P2I includes tasks such as creating purchase orders, tracking incoming shipments, verifying invoices, approving payment for goods/services received, and closing out purchase orders once the items have […]

The Purchasing Agent (PA) is a key figure in procurement, tasked with the responsibility of sourcing and purchasing goods and services that meet the needs of an organization. The PA acts as an intermediary between the buyer and the seller, negotiating favorable terms for both parties while ensuring a smooth and efficient transaction. As a […]

A Procurement Card (PCard) is a corporate payment card that simplifies the procure-to-pay process. It enables organizations to make payments directly from their accounts and provides a level of oversight, control and security for business purchases. PCards offer businesses a more efficient way to manage and track procurement expenses, which can result in cost savings, […]

The Payment Card Industry Data Security Standard (PCI-DSS) is a set of technical and operational requirements used to secure payment card data in business environments. It is an information security standard for organizations that store, process, or transmit cardholder data provided by payment providers such as Visa, MasterCard, American Express, Discover, and JCB. PCI-DSS is […]

Plan Driven Procurement (PDP) is a comprehensive procurement approach for large and/or complex products or services that involves the development of well-defined execution plans before establishing the agreement. The PDP approach ensures that all stakeholders are given an opportunity to provide input, allowing for better decision making and higher quality agreements. It also ensures expectations […]

Customer Relationship Management (CRM) is an integrated technology suite that enables businesses to streamline and optimize their customer interactions. In procurement, CRM helps ensure the effective management of relationships between a business and its customers. The system allows a business to store, track and manage customer information and data in order to enhance communication with […]

The Contractor Responsibility Program (CRP) is a comprehensive set of contractual terms and conditions designed to ensure that all contractors hired by an organization meet the highest standards of quality, safety, and ethical behavior. By adhering to these guidelines, organizations can protect themselves from financial and legal risks associated with contractor services. The CRP outlines […]

The Contractor Responsibility Program System (CRPS) is a comprehensive system designed to ensure that only responsible contractors are selected for federal procurement projects. It seeks to ensure that contractors meet legal, financial, and business compliance requirements in order to provide the best services or products for the government. The CRPS provides consistent guidance during the […]

The Commodity Specialist (CS) in procurement is responsible for providing expert guidance and managing all aspects of the purchase, lease, or sale of goods or services for an organization. This includes researching new suppliers, negotiating favorable terms and prices, tracking purchasing trends, and developing procurement strategies. The CS must stay up to date on industry […]

CSR (Corporate Social Responsibility) Corporate social responsibility (CSR) in procurement is the integration of social, environmental, human rights, and ethical considerations into decision-making and operations with the aim of creating a positive impact on society. By adhering to principles of CSR in procurement, companies can ensure that their goods and services are developed and acquired […]

Delivered at Place (DAP) is a delivery model in which the supplier delivers the goods to a particular location specified by the buyer. This may include any costs of loading onto the vehicle, unloading from the vehicle, and transportation costs to the specified delivery place according to the International Chamber of Commerce’s Incoterms rules. DAP […]

DAT, short for “Delivered at Terminal”, is an international trade term used in procurement agreements. It refers to a sale in which goods are delivered when they are unloaded at the agreed upon terminal destination. This term implies that the seller carries out all of the transportation costs and delivers the goods unladen to the […]

Designated Contract (DC) in procurement is a business term used to identify a preferred supplier. This designation is applied to the suppliers who provide the most advantageous goods and services to a particular organization, based on set criteria such as cost savings, quality performance, reduced lead times, and increased operational efficiency. By favoring this select […]

The Department of Community and Economic Development (DCED) is a Pennsylvania state agency charged with creating jobs, communities and economic opportunity. DCED works in partnership with local governments, businesses, and organizations to foster economic development and job growth, stimulate private investment, strengthen the fiscal health of local governments, promote innovation and entrepreneurship, and ensure responsible […]