This designation is an important consideration to and a component of a supplier diversity program

A Multiple Award is an award of a contract to more than one supplier who meets the requirements of a specification, where the multiple award is made on the grounds set forth in the bid document in order to satisfy multiple factors and needs of authorized users. Those factors may include complexity of items, various manufacturers, differences in performance required to accomplish or produce required end results, production and distribution facilities, price, compliance with delivery requirements, geographic location or other pertinent factors.

The rebranding of equipment and selling it under another name, or as a component of another product

Classification of business established by type of activity for the purpose of facilitating the collection, tabulation, presentation, and analysis of data collected by various agencies of the united states government, state agencies, trade associations, and private research organizations for promoting uniformity and comparability in the presentation of statistical data relating to those establishments and their fields of endeavor.

A concept of game theory where the optimal outcome of a game is one where no player has an incentive to deviate from his or her chosen strategy after considering an opponent’s choice. Overall, an individual can receive no incremental benefit from changing actions, assuming other players remain constant in their strategies. A game may have multiple Nash equilibrium or none at all.

An exploratory and communication process meant to reach a mutually satisfactory agreement. In the purchasing context, negotiation is an exploratory and a bargaining process (planning, reviewing, analyzing, compromising) involving a buyer and seller, each with their own viewpoints and objectives seeking to reach a mutually satisfactory agreement on all phases of a procurement transaction – including price, service, specification, technical and quality requirements, payment terms, etc.

A team constituted for the purpose of conducting a specific negotiation. Team members typically represent the functional areas to be addressed in the negotiation process; the purchasing member usually chairs the team.

A term used with Game Theory

The basic price inclusive of taxes, levies, transportation, all material labor charges plus government or vendor service taxes as applicable.

One of the four Kraljic Matrix quadrants. In general these are products or services with relatively low value and there are many suppliers. These products/services give buyers very few commercial problems from a purchasing point of view.

Incentives such as public recognition, endorsements in the form of public case studies, willingness to provide references, sharing processes and techniques, sharing knowledge and other goodwill gestures can be powerful, intangible incentives that increase visibility and market worth of the supplier. However, buyers and suppliers must be realistic in evaluating the true worth of such incentives. A poorly positioned customer may not be able to provide valuable non-monetary incentives to a well-positioned supplier. On the other hand, a customer that is relatively small, but well regarded in its industry may be very well positioned, particularly if its industry is one that the supplier considers strategic.

Establishes legally binding standards to criminalize bribery of foreign public officials in international business transactions and provides for a host of related measures that make this effective. OECD and ISO 37001 are international standards used to support the elimination of bribery.

OEM refers to the company that made the products (the “original” manufacturer), but with the growth of outsourcing, it eventually became widely used to refer to the organization that buys the products and resells them. This term has two generally acceptable definitions which are actually opposites of each other and may vary by industry: 1) The OEM reseller is often the designer of the equipment (which is made to order) payday loan for bad credit Illinois. An example would be a computer manufacturer OEM which includes components built by other manufacturers; 2) Companies that make products for others to repackage and sell, or to incorporate into a final assembly. An example would be an OEM manufacturing tires for use on automobiles.

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