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Logistics & Supply Chain vocabulary · Procurement and Purchasing

Tender

Meaning in logistics & supply chain, with examples

/ˈtendər/nounCommon term

In logistics & supply chain, tender means: A formal process in which a buyer invites suppliers or carriers to submit offers for a contract and then chooses among them on price and other criteria.

In Turkish: ihale

How it is used

Common in public procurement and in logistics, where shippers run annual freight tenders. A company issues or launches a tender, suppliers bid for it or submit a tender, and the contract is awarded. In US English 'bid' and 'RFP' are more common.

Example sentences

  1. We are launching our annual road freight tender in October.

  2. Three forwarders took part in the tender, and we awarded the contract to the one with the best service level.

Common collocations

  • launch a tender
  • win a tender
  • freight tender
  • submit a tender
  • tender process
  • RFQShort for request for quotation: a document a buyer sends to several suppliers asking them to quote prices and terms for clearly specified goods or services.
  • procurementThe process of finding, choosing and buying the goods and services a company needs, including negotiating with suppliers and managing contracts.
  • sourcingThe work of finding, evaluating and selecting suppliers for the goods or services a company needs, including deciding where in the world to buy from.
  • freight rateThe price a carrier or forwarder charges to move goods, usually per container, per pallet, per kilogram or per shipment.
  • quotationA written statement from a supplier or carrier giving the price it will charge for specific goods or services, usually valid for a limited time.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Procurement and Purchasing

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