| No. | Item | Definition |
|---|---|---|
| 1. | acceptance | formal approval of delivered goods |
| 2. | allocation | distribution of limited supply |
| 3. | amendment | official change to contract |
| 4. | audit | official review of records |
| 5. | authority | official power to decide |
| 6. | award | formal selection of supplier |
| 7. | backorder | unfilled order awaiting stock |
| 8. | benchmark | standard for comparison |
| 9. | bid | offer to provide at price |
| 10. | blanket order | order covering repeated purchases |
| 11. | broker | agent arranging trade transactions |
| 12. | budget | planned amount of spending |
| 13. | buyer | person responsible for purchasing |
| 14. | call-off | release under framework agreement |
| 15. | category | group of similar purchases |
| 16. | competitive bidding | suppliers compete with offers |
| 17. | compliance | meeting rules and requirements |
| 18. | conflict of interest | personal interest affecting judgment |
| 19. | contract | legally binding agreement |
| 20. | cost | amount paid or required |
| 21. | criteria | standards used for judging |
| 22. | defect | fault in goods or service |
| 23. | delegation | assigning authority to another |
| 24. | delivery | bringing goods to destination |
| 25. | demand | amount needed by users |
| 26. | discount | reduction from normal price |
| 27. | due diligence | careful background investigation |
| 28. | duty | government charge on imports |
| 29. | e-procurement | digital purchasing process |
| 30. | escalation | raising issue to higher level |
| 31. | ethics | moral principles in business |
| 32. | evaluation | assessment of offers received |
| 33. | expedite | speed up an order |
| 34. | export | send goods to another country |
| 35. | FOB | free on board shipping term |
| 36. | force majeure | uncontrollable event excuse clause |
| 37. | forecast | prediction of future needs |
| 38. | framework | agreement setting future terms |
| 39. | governance | system of oversight and control |
| 40. | import | bring goods into country |
| 41. | incoterms | standard trade delivery rules |
| 42. | indemnity | protection against certain losses |
| 43. | indexation | price linked to an index |
| 44. | inspection | checking goods or process |
| 45. | inventory | stock of goods on hand |
| 46. | invoice | bill for supplied goods |
| 47. | KPI | measure of performance |
| 48. | lead time | time from order to delivery |
| 49. | liability | legal responsibility for loss |
| 50. | logistics | movement and storage management |
| 51. | lot | separate portion of tender |
| 52. | lotting | dividing tender into lots |
| 53. | market analysis | study of supply market |
| 54. | maverick spend | unauthorized purchasing outside policy |
| 55. | mitigation | action to reduce risk |
| 56. | NDA | confidentiality agreement |
| 57. | negotiation | discussion to reach agreement |
| 58. | net 30 | payment due in 30 days |
| 59. | onboarding | bringing supplier into system |
| 60. | opex | day-to-day operating spending |
| 61. | payment | money given to settle bill |
| 62. | PO | purchase order |
| 63. | policy | official rule or guideline |
| 64. | prequalification | screening suppliers before bidding |
| 65. | price | amount charged for something |
| 66. | procedure | set way of doing tasks |
| 67. | procurement | the process of obtaining goods |
| 68. | purchasing | buying goods or services |
| 69. | qualification | meeting required standards |
| 70. | quality | degree of excellence required |
| 71. | quotation | stated price for requested items |
| 72. | renewal | extension of existing agreement |
| 73. | requisition | internal request to purchase |
| 74. | return | sending goods back |
| 75. | RFI | request for information |
| 76. | RFP | request for proposal |
| 77. | RFQ | request for price quotation |
| 78. | risk | possibility of loss or issue |
| 79. | shipment | goods sent to customer |
| 80. | single source | chosen one among several |
| 81. | sole source | only one supplier available |
| 82. | sourcing | finding suppliers for needed goods |
| 83. | specification | detailed requirement description |
| 84. | spend | money used for purchases |
| 85. | stakeholder | person affected by purchase |
| 86. | supplier | a company that provides goods |
| 87. | tail spend | small scattered purchases |
| 88. | tariff | tax on imported goods |
| 89. | TCO | total cost over lifecycle |
| 90. | tender | formal offer to supply |
| 91. | termination | formal ending of agreement |
| 92. | terms | agreed conditions of sale |
| 93. | traceability | ability to track item history |
| 94. | unit cost | Cost per individual item |
| 95. | validation | Checking accuracy or suitability |
| 96. | vendor | a seller of goods or services |
| 97. | verification | Confirmation something is correct |
| 98. | volatility | frequent unpredictable price changes |
| 99. | warehouse | Place goods are stored |
| 100. | warranty | promise to repair or replace |
