Procurement
/proʊˈkjʊərmənt/
Definitions
The act of obtaining or acquiring something, especially by purchase; the process of acquiring goods, services, or works from an external source.
/proʊˈkjʊərmənt/
The act of getting something
The company's procurement strategy focuses on cost-effective sourcing.
💡 Simply: It's like when you're getting ingredients for a recipe. Procurement is the process of getting all the stuff you need – whether it's pencils for school or materials for a new building project! For example, the school's procurement team works to get all the supplies, from paper to computers, that the students need to learn.
👶 For kids: Getting things that you need, like buying toys!
More Examples
The procurement process can sometimes be slow and bureaucratic.
Efficient procurement is crucial for managing project budgets.
We need a new procurement officer to handle the increasing number of orders.
How It's Used
"The procurement department is responsible for acquiring all the necessary supplies."
"Government procurement regulations are often complex."
Idioms & expressions
Procurement card
A credit card used by an organization for purchases.
"The company uses a procurement card to streamline its purchasing process."
From the French *procurer* (to obtain), from the Latin *procurare* (to manage, take care of). The term has been used since the late 16th century.
The term 'procurement' was initially used in legal contexts to describe the act of obtaining something, gradually extending to business contexts in the 20th century.
Memory tip
Think of "cure" in procure; getting something to fix a need.