GeM - Abbreviations

Abbreviations - GeM

SN	Abbreviation	Stands for
1	GeM	Government e Marketplace
2	GTC	General Terms & Conditions (For Goods & Services. If not chosen STC)
3	STC	Special Terms & Conditions (For Goods & Services)
4	ATC	Additional Terms & Conditions (For Bid/Reverse Auction)
5	SLA	Service Level Agreement (For Services)
6	eRA	e Reverse Auction
7	PFMS	Public Finance Management System (online software for payments system in Govt of India.  Like IPAS in IR)
8	NPCI	National Payment Corporation of India (who develops UPI)
9	UPI	Unified Payment Interface (Payment system developed by NPCI)
10	GeMAR&PTS	GeM Availability Report & Past Transaction Summary
11	NPAE	Non PFMS Agencies/Entities (example is IR)
12	CRAC	Consignee Receipt & Acceptance Certificate
13	PRC	Provisional Receipt Certificate
14	PBG	Performance Bank Guarantee
15	DGS&D	Director General of Supplies & Disposables ( Nodal Agency for GeM and working under Ministry of Commerce & Industries)
16	NPO	Non Profit Organisation ( GeM SPV is NPO registered under Section 8 of Companies Act)
17	SPV	Special Purpose Vehicle
18	MRP	Maximum Retail Price (In GeM, every seller mandatorily offer 10% discount on MRP)
19	GFR	General Financial Rules
20	GMV	Gross Merchandise Value (Total value of transactions on e platform like GeM.  GeM is the 3rd rank in worldwide in terms of GMV)

Stores Contracts - Types (Rate, Running & Fixed Quantity)

 

Stores Contracts - Types 

Rate Contacts - features:

• Supply materials on demand, irrespectively of quantity 

• Supplying the materials during the period of currency of the Contract 

 

• Fixed unit rates 

Running Contracts - features: 

• Specified quantity - with a percentage of tolerance either way 

 

• Supplying the materials during the period of currency of the Contract  

 

• Fixed unit rates  

Fixed Quantity Contracts - features: 

 

• Definite quantity  (in one or more installments) 

 

• Supplying the materials by a definite date 

 

• At the agreed rates. 

Comparison of Stores Contracts 

Type/Feature	Rate Contract	Running Contract	Fixed Quantity Contract
Quantity	Irrespective of (Whatever, the Purchaser demands)	Specified  (with a % tolerance either way)	Fixed  (Definite)
Rate	Fixed	Fixed	Agreed
Delivery Date	As and when ordered  (During the period of currency)	As and when ordered  (During the period of currency)	By a Definite Date  (in One or more installments)

Inventory Control - Methods

 

Inventory Control - Methods

 

Method	Stands for	Based on
ABC	A / B / C	Pareto principle
FSN	Fast / Slow / Non   - Moving	On the level of consumption (moving), frequency of demands and their utility
GOLF	Government / Ordinary / Local / Foreign - Source	On the source of supplies
HML	High / Medium / Low - cost per unit	On the unit cost of items
SDE	Scarce / Difficult / Easily - availability of item	On the criteria of availability of item
SOS	Seasonal / Off seasonal - item	On the nature of supplies
VED	Vital / Essential / Desirable - items	On the criticality in end use
XYZ	High / Medium / Low - Inventory value	On inventory value of items at a given time