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Definitions from WordNet

Definitions from the Web

Procurement

Definition:

Procurement refers to the process of obtaining or acquiring goods, services, or works, usually in a formal manner, for an organization or project.

Part of Speech:

Noun

Sense 1:

The act or process of obtaining goods or services:

Sample sentence:

The procurement team worked diligently to source the necessary materials for the construction project.

Sense 2:

The department or team responsible for procurement:

Sample sentence:

The procurement department ensures that the company's purchasing activities are conducted efficiently and in accordance with regulations.

Sense 3:

The regulatory procedures and rules followed in the acquisition of goods or services:

Sample sentence:

We must adhere to the government's strict procurement policies in order to secure a government contract.

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