Oct 2, 2025 · Procurement is the obtaining or purchasing of goods or services, typically for business purposes and often on a large scale.

The meaning of PROCUREMENT is the act or process of procuring; especially : the obtaining of military supplies by a government.

Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] . …

In business, procurement refers to how companies acquire the goods and services they need from external sources to operate efficiently.

What is the definition of procurement? Procurement is defined as the process of obtaining goods and services crucial to organizational operations and profitability.

May 15, 2025 · Procurement is the backbone of any organization, ensuring that businesses have the goods and services they need to operate smoothly and competitively. At its core, procurement …

Definition of procurement noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.

The procurement function of an organization operates within a specific, focused area of the supply chain. It encompasses every activity involved in obtaining the goods and services a company needs …

PROCUREMENT meaning: 1. the process of getting supplies: 2. the process of getting supplies: 3. the process by which…. Learn more.

Jun 17, 2025 · Procurement is the end-to-end business process of obtaining goods or services that a company needs for day-to-day operations. It includes identifying requirements, selecting suppliers, …