Dictionary of Procurement Terms

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Search Results: 51-60 of 61 results for “O”
  • Organization Chart (Org chart)

    A graphical representation (e.g., diagram) that displays the relationships or reporting hierarchy among the people, departments, or functions of an administrative and functional structure.
  • Organizational (Corporate) Culture

    The shared assumptions, beliefs, and values of an entity or business communicated by its leaders that determine the decisions, actions, and behavior of its employees.
  • Organizing

    The process of defining and coordinating human, physical, and financial resources to achieve results.
  • Original Equipment Manufacturer (OEM)

    The company that produces parts, materials, or equipment, or the authorized reseller of such parts, materials, or equipment.
  • OSHA

  • Outcome

    The result of a process.
  • Output

    A measurable quantity that results from the effort or input of a person, business, machine, or system.
  • Outsourcing

    Action that occurs when an entity makes an informed decision to contract out a product, service, or business process that was previously provided by internal (in-house) resources. The responsibility for providing the outsourced product, service, or business process remains with the entity; the entity pays the contractor for the work done and administers the contract. See also: Insourcing (in-house), Contracting Out.
  • Outsourcing of Non-Core Activity

    The contracting of non-core functions or operations with external contractors, businesses, or suppliers.
  • Overhead Cost

    The recurring costs of running a business, excluding the costs directly associated with the creation of a product or service.
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