noun
- the process of obtaining goods, services, or supplies, especially for a business or organization
Usage: business; formal
Examples
- The company’s procurement department handles all vendor contracts.
- Government procurements must follow strict bidding procedures.
- The hospital’s medical equipment procurements increased this year.
- Defense procurements require extensive security clearances.
- Our procurement process includes quality assessments of all suppliers.
- The procurement of raw materials was delayed due to shipping issues.