procurement Definition
- 1the process of obtaining goods or services, especially for business purposes
- 2the act of obtaining something
Using procurement: Examples
Take a moment to familiarize yourself with how "procurement" can be used in various situations through the following examples!
Example
The procurement department is responsible for sourcing and purchasing materials.
Example
The company's procurement policy emphasizes sustainability and ethical sourcing.
Example
The procurement of new equipment will require additional funding.
procurement Synonyms and Antonyms
Synonyms for procurement
Phrases with procurement
the process by which government agencies purchase goods and services from private companies
Example
The public procurement process is subject to strict regulations and oversight.
the act of obtaining goods or services through deception or illegal means
Example
The company was investigated for procurement fraud after it was discovered that they had falsified documents to win a contract.
an employee responsible for managing the procurement process within an organization
Example
The procurement officer is in charge of negotiating contracts with suppliers.
Origins of procurement
from Old French 'procurer', meaning 'to acquire'
Summary: procurement in Brief
The term 'procurement' [prəˈkjʊəmənt] refers to the process of obtaining goods or services, especially for business purposes. It can also refer to the act of obtaining something. Examples of procurement include sourcing and purchasing materials, emphasizing sustainability and ethical sourcing, and requiring additional funding for new equipment. Phrases like 'public procurement' and 'procurement fraud' denote specific contexts within the procurement process.
