The art, science, and technology of
protecting or enclosing products for
distribution, sale, storage, and use.
Packing List (Slip)
A document that itemizes in
detail the contents of a particular package or
shipment. It is provided to the carrier by the
shipper and accompanies the shipment.
A flat platform, usually made of wood,
metal, or composite material, on which goods
are placed to be lifted and moved by a forklift
A sequence of documents, including
electronic, that documents activities or events
by a person on behalf of an entity for the
purpose of tracking or explaining actions
taken or not taken.
The face value of a bond; the amount
to be repaid when the bond is due.
Issued by NIGP: The
Institute for Public Procurement, Pareto
Accreditation recognizes those entities that
lead the public procurement profession.
Accreditation is valid for five years.
A graphic depiction of the
frequency of defects and their cumulative
1. Named after 19th-century Italian economist
Vilfredo Pareto, this principle states that, for
many outcomes, approximately 80% of
consequences result from approximately 20%
2. As applied to supply management, the Pareto
Principle states that 20% of an entity's
purchasing orders represent 80% of its dollars
3. As applied to inventory control, the Pareto
Principle states that 80% of an entity’s stock
represents only 20% of the total value of its
4. As applied to procurement, the Pareto
Principle states that 20% of an entity’s
purchases account for 80% of the entity's