Procurement: meaning, definitions and examples
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procurement
[ prəˈkjʊəmənt ]
business
The action of obtaining or procuring something, especially for business purposes.
Synonyms
acquisition, buying, purchasing
Examples of usage
- The company's procurement of new equipment was essential for its growth.
- The procurement process for the project took longer than expected.
government
The process of obtaining goods or services on behalf of a public authority.
Synonyms
acquisition, purchasing, sourcing
Examples of usage
- The government's procurement policies aim to ensure transparency and fairness in the selection process.
- The procurement of military equipment is subject to strict regulations.
Translations
Translations of the word "procurement" in other languages:
🇵🇹 aquisição
🇮🇳 क्रय
🇩🇪 Beschaffung
🇮🇩 pengadaan
🇺🇦 закупівля
🇵🇱 zakup
🇯🇵 調達 (choutatsu)
🇫🇷 approvisionnement
🇪🇸 adquisición
🇹🇷 tedarik
🇰🇷 조달 (jodal)
🇸🇦 شراء
🇨🇿 nákup
🇸🇰 nákup
🇨🇳 采购 (cǎigòu)
🇸🇮 nabava
🇮🇸 innkaup
🇰🇿 сатып алу
🇬🇪 შესყიდვა (shesqidva)
🇦🇿 alınma
🇲🇽 adquisición
Word origin
The word 'procurement' originated from the Latin word 'procurare', which means 'to take care of' or 'to manage'. Over time, the term evolved to refer to the process of obtaining goods or services. In the context of business and government, procurement plays a crucial role in managing resources efficiently and effectively.
See also: procuring.