Procurement Terms

noun an offer to pay a certain price for something, especially at an auction

verb present participle of bid, which means to offer a certain amount of money for something in a competitive situation like an auction

• The company submitted their bidding for the construction project.
• They're putting in their bidding for the new contract.
• They're throwing their hat in the ring for the bidding process.
• In the game of business, you have to be strategic with your bidding to win.

verb past participle form of the verb 'unsupply', meaning to fail to provide or give something

adjective describing something that has not been provided or given

• Due to a logistical error, the store was unsupplied with the necessary inventory.
• Sorry, we're unsupplied with that item at the moment.
• We're totally unsupplied for the party tonight, we need to go shopping ASAP.
• His mind was unsupplied with the creativity needed to solve the problem.

noun A person or entity that makes an offer or proposal

• The offeror presented a detailed proposal to the potential client.
• The person making the offer gave a really good deal.
• The offeror hooked us up with a sweet offer.
• The offeror was like a magician, waving their wand and making tempting offers appear.