Approved List

The term “approved list” when used in relation to procurement, refers to a list of suppliers or service providers who have been pre-approved by an organization to provide goods or services. In some cases, an approved list may be exclusive, meaning only those on the list are allowed to provide goods or services. In other cases, the approved list may be non-exclusive, meaning others not on the list may also provide goods or services.

An approved list may be created for a variety of reasons. For example, an organization may want to streamline its procurement process by pre-selecting suppliers that meet certain criteria (e.g., price, quality, delivery). An approved list can also help an organization avoid the potential risks associated with using unfamiliar suppliers.

Approved lists are typically maintained by procurement departments and are typically reviewed and updated on a regular basis.