Sourcing and Procurement
Glossary
Your trusted guide to exploring sourcing and procurement terms & definitions,
from the world’s leading procurement experts and companies
P-Cards (Purchase Cards)
A form of company credit card that allows goods and services to be procured. P-card purchases are usually made against existing contracts and pricing schedules. Buying organizations implement p-cards to help control spend as certain limitations and approvals can be configured for their use. Sometimes also referred to as procurement cards or a buying card.
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PLANT-MATTER BASED OR BIO-BASED PRODUCT
A product derived from renewable resources, including fiber crops, such as kenaf; chemical extracts from oilseeds, nuts, fruits and vegetables (such as corn and soybeans); agricultural residues, such as wheat straw and corn stover; and wood wastes generated from processing and manufacturing operations. These products stand in contrast to those made from fossil fuels (such as petroleum) and other less renewable resources (such as virgin timber).
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POLITICAL SUBDIVISION
A subdivision of a state which has been delegated certain functions of local government. Can include counties, cities, towns, villages, hamlets, boroughs and parishes.
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PPI (Producer Price Index)
A numerical figure representing a certain producer price compared with a base index at an earlier time.
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PRE-CONSUMER MATERIAL
Material or by-products generated after the manufacture of a product but before the product reaches the consumer, such as damaged or obsolete products. Pre-consumer material does not include mill and manufacturing trim, scrap, or broken material which is generated at a manufacturing site and commonly reused on-site in the same or another manufacturing process.
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POST-CONSUMER MATERIAL
A finished material which would normally be disposed of as a solid waste after its life cycle as a consumer item is completed. Does not include manufacturing or converting wastes. This refers to material collected for recycling from office buildings, homes, retail stores, etc.
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PREFERENCE
An advantage in consideration for award for a contract granted to a vendor by reason of the vendor's residence, business location, or business classifications (e.g., minority, small business).
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