Procurement Vocabulary

noun a person or company that sells goods or services

verb not applicable

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pronoun not applicable

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• The vendor provided a detailed breakdown of their products and services.
• I always buy my fruits from the same vendor at the farmer's market.
• The street vendors always have the best snacks for cheap.
• The vendor of hope offered a solution to their problems.

noun MRP stands for Maximum Retail Price, which is the highest price that can be charged for a product or service as per government regulations.

• The manufacturer's suggested retail price (MRP) for the new product is $99.
• The MRP for that item is $50, but I bet we can find it cheaper online.
• I found this cool gadget for half the MRP price!
• The MRP of success is hard work and determination.

verb past tense of bid; to offer a certain price for something in an auction or competition

• He bidded farewell to his colleagues as he left the company for a new job opportunity.
• She bidded on the antique vase at the auction but was outbid in the end.
• I bidded on that concert ticket so fast, I couldn't believe I won!
• The sun bidded adieu to the sky as it set behind the horizon.