Another Word For Procurement

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Meaning

The word "procurement" refers to the process of obtaining goods, services, or works from an external source. It usually involves a decision-making process, where organizations or individuals identify their needs and then seek out vendors or suppliers to fulfill those needs, often through bidding or purchasing agreements.

Synonyms

Antonyms

Etymology

The word "procurement" originates from the Middle French "procurer," which means to obtain or get. This French term itself derives from the Latin "procurare," where "pro-" means "for" and "curare" means "to care for." The term has evolved over time to signify the specific act of obtaining goods or services.

Examples

  1. The company is focusing on sustainable procurement practices to reduce its environmental impact.
  2. During the procurement process, it is essential to evaluate multiple suppliers to ensure the best value.
  3. Our department's responsibility includes the procurement of office supplies and equipment.