Procurement Essentials is a series of articles to help you overcome common hurdles, understand key concepts, and make your life as a buyer of everyday goods and services easier.
Published 4 October 2022
Last updated 4 October 2022
NB: This article was originally published on 4 October 2022. All information was correct at the time of writing, but may not be fully applicable following the introduction of the Procurement Act 2023.
Running a procurement can involve technical language that can sometimes be a little daunting. Whether you’re an experienced professional or new to running procurements, we want to help you understand some of the common terms and abbreviations you may come across.
With this in mind, we’ve produced a new glossary of the most common terms and abbreviations, to be used as a useful reference when buying goods and services for your organisation.
The entries are arranged alphabetically and you can search for specific terms using the search bar. This is a new service and we will be adding to it iteratively over the coming months to make sure it’s up to date.
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More: You can now find all of our Procurement Essentials articles in one place on our website.