Glossary

We understand that procurement can be confusing. Organisations often use different terms to describe the same thing. With that in mind, we designed this glossary to make buying with us and navigating our website easier. It is not designed to be an extensive list of all procurement terms.



Containing

D

Dynamic markets

Dynamic Markets are not contracts themselves but they give you a list of approved suppliers to choose from when you need to buy something. Key points:

  • they can be used for any purchases above the set value limits, not just everyday items
  • the whole process of a dynamic market takes place online through an electronic tool
  • new suppliers can apply to join a dynamic market at any time and, if approved, they must be added to the system within a reasonable timeframe

This commercial tool replaces Dynamic Purchasing Systems (DPS) used under PCR 2015.

Dynamic market notice

A notice that buyers publish when a dynamic market:

  • is to be established
  • has been established
  • is changed or updated
  • ends