acronym

MSCC (Material Service Contract Catalog) Material Services Contract Catalog (MSCC) is a comprehensive inventory of goods, services, and pricing negotiated between the procuring entity and vendors. It outlines the specific terms of each contract as well as protocols for procurement activities for materials and services required by the entity. MSCC allows for streamlined ordering and […]

The Manufacturer’s Suggested List Price (MSLP) is a reference point used in procurement to determine the value of goods and services for a particular transaction. It is an estimate of the price at which a manufacturer or supplier typically recommends that their product be sold in the marketplace. MSLP provides suppliers and buyers with a […]

MSMEs (Micro-Small and Medium Enterprises) are businesses and organizations whose annual revenue or employee count falls within predetermined thresholds set by the government. They play an important role in any economy, particularly in terms of job creation and economic growth. In procurement, MSMEs are valued suppliers due to their cost-effectiveness, flexibility, and responsiveness. Businesses seeking […]

Manufacturer’s Suggested Retail Price (MSRP) is an official business definition in the procurement industry. It represents the price at which a manufacturer recommends that its products be sold in the retail market. This price provides guidance to suppliers and buyers alike, helping them determine what kind of pricing structure to use and aiding in negotiations […]

Motor transport (MT) in procurement refers to the task of transporting goods or materials, usually by motor vehicle. This includes a wide range of vehicles from commercial trucks to light vans, tractors, trailers, and trains. The purpose of MT is to ensure that goods and materials are safely delivered to their destination in a timely […]

MTBF (Mean Time Before Failure) Mean Time Before Failure (MTBF) is a measure of reliability in procurement that indicates the average time an asset, product or service should be expected to function uninterrupted before failure. In other words, it’s the estimated amount of time a system can operate without breaking down. As such, an important […]

MTBUR, or Mean Time Before Unscheduled Removal, is a measure of the durability and dependability of an item in use. It is most commonly used in procurement settings to evaluate suppliers’ contractual commitments and guide purchasing decisions. Through careful analysis of MTBUR measures, organizations can gain insights into how long a product can be expected […]

MTD, or Month-to-Date, is a procurement term used to describe the timeframe for which data will be tracked. Specifically, it refers to the period of time beginning at the start of the current calendar month and ending at the present date. As such, it allows procurers to assess and compare spending against budgeted targets more […]

Make-to-order (MTO) is an inventory replenishment strategy used in procurement that involves making and shipping items only after a customer order has been placed. As opposed to the make-to-stock model which involves keeping pre-made items in stock, MTO requires precise planning and coordination of resources and supplies to ensure that the goods are produced and […]

Make to Stock (MTS) is a business procedure in the procurement process that involves producing goods prior to receiving customer orders. By pre-producing goods and storing them in inventory, MTS enables businesses to rapidly fulfill customer orders as soon as they come in. This strategy ensures that customers receive their products faster than if the […]

Minority/Women-Owned Business Enterprises (MWBEs) are businesses that are at least 51% owned, operated and controlled by a minority or woman. MWBEs represent an important source of goods and services for many government agencies. Procurement departments recognize the importance of MWBEs in providing cost savings, developing new job opportunities and driving innovation in the procurement process. […]

NAICS (North American Industry Classification System Code) The North American Industry Classification System (NAICS) is an industry-specific hierarchical coding system developed by the United States Office of Management and Budget to organize businesses for statistical tracking purposes. It is a federal government-authorized standard used by government agencies, private industry, and non-profit organizations in order to […]

The National Association of State Procurement Officials (NASPO) is an association of state, county and municipal procurement officials, which serves to enhance the proficiency of public procurement. It provides its members with a forum for the exchange of ideas related to procurement practices and policies. NASPO ensures uniformity in procurement processes among all members, allowing […]

The NEC (New Engineering Contract) is a suite of modular contracts for large engineering projects. It serves as an alternative to traditional forms of contract and includes increased focus on collaborative project management, clear risk management techniques, and the delivery of mutual trust and respect between clients and contractors. The NEC creates a transparent framework […]

NEG (Negotiated) in procurement is the process of obtaining goods and services through a voluntary agreement between a buyer and seller. This process involves the buyer and seller discussing and reaching an agreement on key elements such as speed, price, quality, delivery, and service terms. The purpose of a negotiated procurement is to develop innovative […]

Non-Governmental Organizations (NGOs) are organizations operated by private individuals or groups that operate independently of any government. They are usually associated with international development, humanitarian aid, public health, social justice, and human rights. In the procurement context, NGOs aid governments in providing services to the community and supporting projects that benefit those in need. Additionally, […]

The National Highway Transportation Safety Administration (NHTSA) is the federal agency responsible for setting and enforcing safety standards for motor vehicles in the United States. It is also responsible for investigating vehicle defects and making recommendations to the relevant industries. For those involved in procurement, the NHTSA’s definition of “safety” means meeting specific standards and […]

NIGP (National Institute of Governmental Purchasing) is the professional association that serves the needs of the public sector procurement community. It provides both the education and research necessary for its members to increase their level of expertise and skillset when it comes to purchasing, managing, and leveraging resources in a cost-effective, efficient, and ethical manner. […]

The National Institute of Standards and Technology (NIST) is a federal government agency that sets standards in areas such as security, electronics, quality assurance, and the management of federal programs. From a procurement perspective, NIST standards are guidelines established by the agency that must be followed for certain projects or products. For example, organizations that […]

Net Present Value (NPV) is a financial tool used in procurement management to help companies make better investment decisions. It measures the potential value of an investment by taking into consideration both its funding costs and expected returns in present-day monetary units. In other words, it helps quantify the amount of financial benefit that could […]

NTE Price (Not-To-Exceed-Price) Definition: In procurement, NTE is a term used to describe an agreed upon maximum price that is not to be exceeded should the cost of goods or services exceed this amount. It also provides protection for buyers by setting a ceiling on the amount spendable in any given transaction. This price is […]

The Office of Administration (OA) procures goods and services for all executive branch departments of the Commonwealth of Pennsylvania. OA works to ensure the highest standards of ethical practice in the procurement process, from competitive bidding to customer service and quality assurance. We comply with all applicable laws and regulations, and are committed to providing […]

The Office of Administration/Office for Information Technology (OA/OIT) is an official government office responsible for overseeing the procurement of information technology-related products and services in the United States. This office provides oversight, guidance, and direction on policies and procedures related to IT procurement, ensuring that all purchases across departments are made with efficiency and integrity. […]

The Office of the Budget (OB) is a division within the procurement organization whose primary responsibility is to oversee and manage budget related activities. This includes developing, recommending, and monitoring budgets, ensuring fiscal integrity throughout the budget process, and coordinating with other departments in order to align budget resources with organizational strategies. OB enables an […]

The Office of Chief Counsel (OCC) in procurement is the legal control office responsible for providing comprehensive and up-to-date legal advice to contracting officers on all aspects of government contracting activities. This includes managing and resolving any contractual issues that may arise during the procurement process, ensuring proper compliance with applicable laws and regulations, as […]

Fifth Party Logistics (5PL) is an integrated supply chain service provider that coordinates and oversees the entire process of procurement, from sourcing to delivery. It works in tandem with existing logistics providers and offers a holistic approach to managing the procurement process. 5PL allows for a more effective and efficient process by providing visibility into […]

Administative Action (AA) in procurement is a legal document that represents an agreement between two parties in a contractual or business relationship. AAs are used to document changes, additions or corrections to an existing agreement and specify responsibilities of each party involved. They are also used to document the terms and conditions of new deals […]

An Advance Contract Award Notice (ACAN) is an official written notice issued by the Government of Canada that provides potential bidders with information about an upcoming procurement for goods, services, or construction. This notice outlines the buyer’s intention to award a contract to a particular supplier without competition, and allows other suppliers to indicate their […]

The Automatic Clearing House (ACH) is a payment system that facilitates the electronic transfer of funds between two or more entities. It enables transactions to be processed quickly and securely by automating the exchange of financial information between participating institutions via an electronic network. The ACH system has become an essential tool for businesses in […]

Automated Clearing House (ACH) is a secure electronic network used to process and facilitate the transfer of payments in the procurement space. It enables businesses and organizations to send large batches of payments electronically, providing the benefits of expedited payment processing and cost savings over traditional paper-based methods. ACH provides a reliable, efficient, and cost-effective […]

The Advanced Certificate in Strategic Procurement (ACSP) is a recognized professional qualification that enables individuals to gain the knowledge and skills necessary to work as an effective procurement professional. The ACSP provides an understanding of strategic and operational principles, enabling professionals to assess, plan, and manage purchasing operations at a higher level with greater confidence […]

An Assistant Director, or AD in procurement is a senior-level professional responsible for overseeing the day-to-day operations of a purchasing department. This individual works with the Head of Procurement and other staff to ensure that all our suppliers’ products and services are sourced in a timely and budget-friendly manner. The AD is also responsible for […]

ADR (Alternative Dispute Resolution) The term Alternative Dispute Resolution (ADR) is a broad label used to refer to various methods of dispute resolution outside of the traditional court system. In a procurement context, ADR refers to negotiations between two parties that aim to resolve conflicts before they escalate into legal disputes. ADR involves using professional […]

AEP is an acronym that stands for Achievement of Excellence in Procurement. It refers to the practice of managing purchasing and procurement activities with a focus on efficiency, quality, and effectiveness. AEP-driven procurement activities are designed to maximize value for stakeholders while ensuring compliance with applicable laws and regulations. Professionalism and integrity must be maintained […]

Alternative Fuel Vehicles (AFV) are vehicles that are powered by alternative fuel sources instead of traditional fossil fuels. AFV technology has seen a rise in recent years, making it an attractive option for companies looking to reduce their carbon footprint and reduce energy costs. The procurement of such vehicles requires careful consideration, as each type […]

In the realm of procurement, AG stands for Attorney General. This term refers to the office responsible for providing legal advice and opinions to government bodies, agencies, and officials on matters related to public law. As an official, the Attorney General has the authority to provide legal representation in cases involving the public interest. The […]

AIDAR (Agency for International Development Acquisition Regulation) is the primary acquisition regulation applicable internationally for the United States Agency for International Development (USAID). AIDAR provides consistent rules, regulations, and procedures that ensure government purchasers are held to the highest standards of accountability when procuring goods and services needed for international development projects. AIDAR contains guidance […]

AMMPL (Association Materials Management, Purchasing, and Logistics) AMMPL stands for Association Materials Management, Purchasing, and Logistics. It is an industry organization formed to promote best practices in the procurement space. Members gain access to a range of resources to help them implement efficient and effective processes for managing material, purchasing, and logistics operations. This includes […]

AOR, or After Order Receipt, is a purchasing term used to explain the process of submitting and approving an order after it has been received. The AOR procedure ensures that all orders are properly reviewed for accuracy and quality before they are accepted by the vendor. It also provides a system of checks and balances […]

AORO stands for ‘Agency Open Record Officer,’ a position designated by an agency to oversee the procurement process and ensure compliance with all applicable regulations. The AORO is responsible for opening and organizing bids, evaluating them for accuracy, and ensuring that the agency receives the most cost-effective service possible. They must also be able to […]

AP, or Accounts Payable, is a business term referring to a company’s obligations to pay its bills and invoices. It typically involves the purchase of goods and services from suppliers, and may include automation processes such as Electronic Data Interchange (EDI) for streamlined payment processing. AP also involves approval procedures to ensure compliance with corporate […]

The Agency Procurement Request (APR) is a formal document designed to facilitate the procurement process within organizations. It outlines the details of a procurement transaction, including the quantity and quality of goods and services requested, the essential requirements of suppliers and potential sources of supply, desired payment terms, mode of delivery, and any additional stipulations. […]

ARR, or Average Rate of Return (also known as Accounting Rate of Return), is a business term used in procurement to measure financial performance. It indicates the expected revenue generated from an investment relative to its cost over a certain period of time. The higher the ARR, the higher the profitability of the venture; conversely, […]

The American Society for Quality (ASQ) is an organization dedicated to promoting quality as a business principle. ASQ offers members access to resources and tools that enable them to pursue excellence in their respective areas of expertise. In regard to procurement, ASQ defines its mission as providing guidance on how organizations can leverage quality principles […]

An Acquisition Strategy Report (ASR) is a document that provides an organization’s proposed plan of action for the procurement of goods or services. The ASR outlines all relevant information related to the sought-after item/service, including the analysis of the requirement, potential suppliers, resources available, associated costs, and potential risks. It also maps out a comprehensive […]

Business-to-Business (B2B) procurement refers to the commercial exchange of products and services between two businesses. Such exchanges are typically facilitated through complex contractual agreements that involve multiple stakeholders from both parties. By leveraging strategic sourcing and negotiation, B2B procurement generally seeks to increase profitability, reduce operating costs, improve operational efficiency, and minimize risk. Additionally, it […]

B2C (Business to Consumer) is a type of procurement where businesses sell their products directly to consumers, either through physical or online stores. Businesses conducting this process seek to create relationships with customers by providing goods and services that meet their needs. This type of procurement allows businesses to interact directly with their target audience, […]

Best and Final Offer (BAFO) is a term used in procurement to describe the final offer received from a potential supplier. It is typically the most favourable offer that reflects both the customer’s needs and budget constraints. BAFO can also refer to any written or verbal adjustments to an initial offer made by the supplier […]

Best Alternative To A Negotiated Agreement (BATNA) is an important concept in procurement, as it is used to evaluate decisions and potential outcomes of negotiations. BATNA serves as a guide for negotiators to determine the best possible outcome for both parties involved. It is the minimum acceptable outcome that a negotiator should accept if negotiations […]

Business As Usual (BAU) is the set of activities that are conducted on a regular basis to keep operations running in an efficient, successful manner. In procurement, BAU activities refer to the standard methods for finding and purchasing supplies. These activities include the evaluation of suppliers, ordering materials, negotiating terms and contract management. By adhering […]

Business-to-business (B2B) procurement is the process of purchasing goods and services from outside vendors by businesses for their operational needs. This type of procurement is essential for any organization that wishes to succeed in today’s competitive marketplace. Companies must effectively manage their B2B procurements in order to maximize profitability, while ensuring quality standards, timely delivery, […]

Bidding documents refer to the set of instructional documents that are issued by a purchaser for an invitation to tender, or bid, for goods and services. They usually include a full description of the proposed contract, directions regarding how to complete the bidding process and submit the bid, instructions on how to receive evaluation criteria […]

BEA, or the Bureau of Engineering Architecture, is a government agency that provides services related to public works and engineering projects. The primary purpose of the BEA is to ensure the safety and quality of infrastructure projects and to ensure that these projects adhere to the highest standards. BEA’s services include project assessment, oversight and […]

The Bureau of Labor Statistics (BLS) is a federal agency responsible for the collection and analysis of data related to labor economics in the United States. The BLS provides businesses, government officials, economists, and researchers with data on employment trends and salary dynamics, helping them to make informed decisions and offering invaluable insight into the […]

A Bill of Materials (BOM) is an official document used in procurement that lists all the individual components and parts required to create a product. It details the exact quantity, specifications, and production information needed for each component, and is designed to provide vital information needed in order to ensure an efficient and accurate manufacturing/assembly […]

BOOM (Contract Builds, Owns, Operates and Maintains Contract) BOOM is a business construct for procurement that stands for Builds, Owns, Operates and Maintains. This model allows businesses to optimize their procurement process by utilizing long-term contracts to build, own, operate and maintain assets or services. This approach enables ongoing management of contracted services while allowing […]

Build-Own-Operate-Transfer (BOOT) is a type of procurement model commonly used in public and infrastructure project financing. It involves the contracting of a private entity to develop, finance, construct, and own a project, as well as providing operational and maintenance services for an agreed time period before transferring it back to the procuring entity. By utilizing […]

The Bureau of Procurement (BOP) is an agency within the Department of Administration that oversees the acquisition, management, and disposal of materials and services for Washington State government agencies. BOP is responsible for procuring goods and services efficiently and economically, in compliance with applicable statutes and regulations. This includes soliciting bids or proposals from vendors, […]

A Blanket Purchase Agreement (BPA) is a procurement method used by businesses to streamline the purchasing process. It provides the ability to purchase multiple types of products or services from one supplier over a specified period of time. This can result in savings on transaction costs, simplified ordering processes and improved supplier relationships. BPAs may […]

Business Process Outsourcing (BPO) is the practice of engaging an external vendor to manage non-core functions or activities of a business. Through BPO, organizations can outsource labor-intensive tasks such as payroll, accounts receivable/payable, administrative tasks and data entry while maintaining control over key processes. The purpose of BPO is to reduce costs, increase efficiency and […]

A Chartered Accountant is a professional designation provided by organizations around the world. It denotes a level of proficiency in financial management, reporting, and contemporary business trends that is obtained through rigorous study and testing. In procurement, a Chartered Accountant is someone who has had an intensive education in the areas of general accounting, taxation, […]

Computer-Aided Design (CAD) is an advanced method of designing, modeling and manufacturing objects using specialized software. In procurement, this involves the utilization of CAD to produce a three-dimensional representation of a product, component or piece of equipment prior to its production for purchase or use. This process helps streamline and improve the accuracy of the […]

CAL (Contract Award Letter) A Contract Award Letter (CAL) is an official notification that is issued by a procuring authority after evaluating the bids received in response to a Request for Proposal (RFP). The CAL officially awards the contract to a successful bidder and sets out the terms and conditions of the contract. The CAL […]

‘Contract Award Notification (CAN) is a notification issued by a contracting authority to the successful tenderer, informing them of their selection for an award. A CAN provides information on the awarded contract and the associated obligations between contracting parties, including detail on commercial terms, costs and payment terms. It also outlines any further actions required […]

CANU (Contract Award Notification Update) CANU stands for Contract Award Notification Update and is defined as a formal notification required when any changes are made to an existing contract. This includes changes to the negotiated agreements, payment terms, and related documentation between parties that are part of the original agreement. The purpose of CANU is […]

Capital Expenditure (CAPEX) is the money spent by a business to acquire, maintain, and upgrade assets in order to generate long-term value. CAPEX often refers to larger purchases made to support operations or establish new ones, such as buying real estate, plant, equipment, vehicles, and technology. It is also used to fund development projects, such […]

Cost Benefit Analysis (CBA) is an economic tool for evaluating the costs of a project in comparison to its anticipated benefits. This method of analysis helps businesses make decisions on whether or not to proceed with a given venture by weighing the monetary value of all potential risks, opportunities and objectives associated with the project. […]

The Competition and Consumer Act 2010 (the CCA) is the Australian Government’s primary legislation for protecting consumers, promoting fair trading and preventing anti-competitive activity in the marketplace. It contains a comprehensive set of laws that govern aspects of business practices including pricing, advertising, distribution, consumer protection and market dominance. The CCA applies to all companies […]

Competitive Dialogue (CD) is a European Union procurement process that allows for open, transparent and structured dialogue between the contracting authority and bidders. The aim of this process is to provide an opportunity for bidders to engage in meaningful discussions with the contracting entity so they can present their capabilities and innovative ideas effectively. CD […]

The Chief Executive Officer (CEO) is the most senior executive position in an organization and is responsible for making strategic decisions, managing financial resources, setting operational goals, and leading a team of employees and executives. As such, they are essential to any procurement process. The CEO should have the ultimate decision-making authority when it comes […]

Cost and Freight (CFR) is an international trading term used in procurement that requires the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier. The seller must also pay the costs of freight required […]

CIF stands for Cost, Insurance and Freight. It is a pricing arrangement used in the transportation of goods, in which the seller bears all costs and assumes all risks up to the arrival of the goods at the destination port. Under this arrangement, the buyer pays only the cost (the price of the goods, freight […]

Carriage and Insurance Paid (CIP) is an official shipping term used in procurement transactions. It indicates that the seller is responsible for arranging transport of the goods to a specified destination, and also assumes the risk of loss or damage to the goods during transit. The seller also covers all necessary insurance costs associated with […]

The Chartered Institute of Procurement & Supply (CIPS) is the global professional body for procuring and supplying goods, services, and works. It provides leadership, integrity, and innovation in professional procurement practices through its network of over 160,000 members across 150 countries worldwide. CIPS sets the standards for excellence in procurement by developing ethical codes of […]

The term CL, or Circular Letter, refers to an official document issued by an organization for its members. This document serves as a means of communication between the organization and its members. A Circular Letter typically contains information related to the organization’s policies, regulations, and updates pertinent to the members. It is often used in […]

The Centre Led Action Network (CLAN) is a dedicated platform established to facilitate collaboration between government procurement experts across the public sector. CLAN works to develop smarter, more efficient and cost-effective approaches to procurement by providing rigorous scrutiny of proposed spending plans and encouraging the sharing of best practices. Through this collaborative effort, CLAN enables […]

Close of Business (COB) is a term used in procurement to refer to the time when business activities are officially closed for the day. It can be used as a deadline for submitting applications or documents, and all transactions must be completed before COB in order for them to be considered valid. In general, COB […]

Cash On Delivery (COD) is a payment arrangement in which the recipient of goods or services pays for them at the time of delivery. COD is typically used as an alternative to pre-payment, allowing businesses to receive payment for goods and services rendered without having to put up any upfront capital. In procurement, COD serves […]

Cost of Goods Sold (COGS) is a business term used to describe the total cost associated with manufacturing, producing, and selling products or services. It is calculated by adding up the costs of materials, labor, and overhead expenses associated with purchasing, processing, and/or producing goods that are sold to customers. This number helps companies better […]

Conflict of Interest (COI) in procurement is defined as any situation in which a purchaser, vendor, or other person involved in the procurement process stands to receive personal, corporate, financial, or other benefits that could be seen as influencing the outcome of the procurement decision. This includes situations when an individual or entity has a […]

The Cost of Living Adjustment (COLA) is a business term used to refer to a wage adjustment for employees based on changes in the cost of living. COLA is generally calculated using an index such as the Consumer Price Index (CPI) or an index specific to the employee’s area, and typically factored into salary annually […]

CONUS (Continental United States) is defined as the 48 contiguous, or adjacent, states in the United States. This includes states such as Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, and Georgia. It does not include Alaska, Hawaii, Puerto Rico, Guam, US Virgin Islands, American Samoa, and other US-owned territories. In the context of procurement, […]

The Certificate of Origin (COO), also known as a Commercial Invoice, is an official document used in global trade to provide verification that goods have been manufactured, produced, or processed in a particular country. The COO helps buyers determine the applicable tariffs and duties they may be subject to for international imports. It also ensures […]

Coop procurement, also known as cooperative purchasing or cooperative purchase, is a type of government procurement process where multiple government agencies join forces to leverage their purchasing power and reduce costs. It allows agencies to negotiate better deals with suppliers by combining buying volumes from multiple entities. Through this process, government entities can access more […]

COPPAR (Community of Practice Procurement Architectural Review) COPPAR (Community of Practice Procurement Architectural Review)COPPAR stands for Community of Practice Procurement Architectural Review, a business definition that refers to the review of an organization’s procurement architecture. It is an iterative process that engages stakeholders in order to elicit feedback on the adequacy and effectiveness of existing […]

Commercial off-the-shelf (COTS) is a procurement method used in business and government to obtain commercial products, such as software or hardware, typically from an outside vendor or supplier. The COTS model provides a wide array of products to choose from, allowing for the efficient acquisition of goods while avoiding the time, cost and risk associated […]

CPCM (Certified Professional Contract Manager) Certified Professional Contract Manager (CPCM) is a professional designation, recognized by the International Association for Contract and Commercial Management (IACCM), that denotes expertise in contract management, stewardship, and compliance. It is awarded to those who have demonstrated mastery in a range of core business skills and practices related to proactively […]

The Carbon Disclosure Project (CDP) is a not-for-profit organization that measures and manages environmental risks in the global supply chain. By engaging with businesses on climate change, CDP collects detailed information about corporate emissions, water usage, and other relevant sustainability metrics. This data is then used to create an environmental performance scorecard that assesses company […]

Continuing Professional Development (CPD) is a formal process of acquiring new knowledge and skills in order to maintain and enhance one’s professional competency. It is an increasingly important way for professionals to both remain current with the latest industry developments and keep their career prospects open. CPD involves engaging in activities such as courses, seminars, […]

The Consumer Price Index (CPI) is an official measure of inflation used in procurement to track the changes in prices of goods and services over time. It measures price-level changes by collecting data from a representative sample of retail businesses, service providers, landlords and other sources. The CPI is an important measure for staying informed […]

The Chief Procurement Officer (CPO) is a senior executive responsible for leading and managing all of an organization’s procurement activities. As the leader in this role, the CPO is responsible for creating and executing a strategic vision that meets the organization’s objectives with regard to cost savings, vendor relationships, quality assurance, process compliance, and other […]

CPPB (Certified Professional Public Buyer) Certified Professional Public Buyer (CPPB) is an official designation that recognizes public procurement professionals who demonstrate mastery of the public procurement process. It is awarded to professionals who have successfully completed a rigorous training and examination program, demonstrating their knowledge and proficiency in the field. CPPB certification is a valuable […]

Certified Public Procurement Officer (CPPO) is an individual with certification from a recognized organization, such as the Institute for Supply Management (ISM). The CPPO designation indicates expertise in public procurement and purchasing principles and methods. A Certified Public Procurement Officer possesses an in-depth knowledge of federal, state, local, and commercial sourcing strategies. They are proficient […]

Carriage Paid To (CPT) is an incoterm, or international trade term, used to define and demarcate the obligations of a buyer and seller during the movement of goods. Under CPT terms, the seller carries the cost of delivery of goods to an agreed-upon destination while the buyer bears all associated risk from that point onward, […]

The Common Procurement Vocabulary (CPV), as defined by the European Union, is a standardized coding system used to classify goods and services procured or sold by public bodies. It provides a standard reference structure for both buyers and sellers within the EU’s public sector procurement system. CPV codes are essential for public market participants looking […]

Continuous Recruitment (CR) is a procurement strategy that provides companies with an ongoing system for sourcing qualified talent on an as-needed basis. CR helps organizations to keep pace with the dynamic needs of their business, while also ensuring they have access to the best and most diverse talent in their field. By investing in long-term […]

2PL, also referred to as Second-Party Logistics, is a business model in which one company contracts the logistics activities of another company. Under this model, the contracted company provides outsourced warehousing, order fulfillment, transportation, inventory management and other services to the principal (first) party. This arrangement allows the first party to focus on its core […]

3PL (Third-Party Logistics) Third-Party Logistics (3PL) is a term used in the procurement industry to describe an external organization or firm that provides services related to the supply chain. This typically involves warehousing and distribution, but can also include transportation, inventory management, and other activities. 3PLs allow organizations to reduce costs, increase efficiency, and focus […]