procurement

American  

[proh-kyoor-muhnt, pruh‑] / proʊˈkyʊər mənt, prə‑ /

noun

1. the act of procuring, or obtaining or getting by effort, care, or the use of special means.

   The organ procurement procedure is very complicated.

2. the act of obtaining equipment, materials, or supplies.

   The secretary of defense argued in favor of increasing the budget for procurement.

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Usage

What does procurement mean? Procurement most commonly refers to the formal, official process of purchasing and obtaining materials, supplies, or equipment, especially in the context of business or government.Many large companies and government agencies have a procurement department that handles the ordering and acquisition of supplies. Such a department is often simply referred to as procurement, as in You’ll have to ask procurement to order those materials. Procurement is the noun form of the verb procure. In general, procurement means the act of getting something, especially through special means or extra effort, as in The procurement of transplant organs is a complex process.Example: If someone says they work in procurement, it means they spend a lot of time navigating the supply chain to get what their company needs.

Other Word Forms

• nonprocurement noun
• self-procurement noun

Etymology

Origin of procurement

First recorded in 1300–50; procure ( def. ) + -ment ( def. )

Example Sentences

It describes that as the single largest procurement of offshore wind energy in British and European history.

From BBC

The bank is also upbeat on contract research, development and manufacturing organizations, supported by a funding rebound and expanding global capabilities, and on medtech companies as medical equipment procurement recovers.

From The Wall Street Journal

Officials said implementation would begin with school meals and federal procurement, with broader changes phased in over time.

From Barron's

Thales encourages people to upskill and move between roles, such as procurement to program management to digital skills.

From BBC

The same problem arises whenever third parties spend on your behalf—healthcare, corporate procurement, government programs.

From The Wall Street Journal

Related Words

• acquisition