Procurement means the process of acquiring goods or services, typically through purchasing or contracting.
When to use it
"Procurement" refers to the process of acquiring goods, services or works from an external source, usually through a purchasing or contracting process. It is commonly used in business, government and other organizations to obtain the necessary resources to complete a project or meet operational needs. Procurement typically involves tasks such as identifying suppliers or vendors, negotiating prices and contracts, managing the delivery of goods or services, and evaluating the quality of the procured items. In simpler terms, procurement refers to the act of purchasing or acquiring something for a specific purpose.
Example sentences
- The procurement department is responsible for purchasing goods and services for the company.
- Before the procurement process begins, a budget must be assigned.
- The procurement team evaluates potential suppliers and negotiates contracts.
- Cost reduction is a primary goal of procurement.
- The procurement officer is currently out of the office on vacation.
- A procurement audit was conducted to ensure compliance with regulations and policies.
- The procurement cycle includes requisition, approval, purchase order, and receipt.
- Technology has greatly improved the efficiency of procurement processes.
- The procurement manager holds regular meetings with vendors to discuss performance and issues.
- Good communication is essential for effective procurement.
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