- 1. To attain possession of something, usually after exerting a substantial effort to do so.
2. The purchasing of something usually for a company, government or other organization.
Here are some examples of sentences using the word "procurement":
1. He was able to procure seats to the sold-out concert.
2. The company has a large budget for the procurement of office supplies.
Procurement is a term commonly used in the energy industry as many retailers must procure gas, electricity and/or other energy sources through trading activities, such as buying futures contracts.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Procurement — is the acquisition of goods and/or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location.… … Wikipedia
procurement — pro‧cure‧ment [prəˈkjʊəmənt ǁ proʊˈkjʊr ] noun [countable, uncountable] formal COMMERCE the act of ordering and buying the equipment, supplies, services etc needed by a company or other organization: • Uncertainty in government procurements hit… … Financial and business terms
Procurement — Pro*cure ment, n. [1913 Webster] 1. The act of procuring or obtaining; obtainment; attainment. [1913 Webster] 2. Efficient contrivance; management; agency. [1913 Webster] They think it done By her procurement. Dryden. [1913 Webster] … The Collaborative International Dictionary of English
procurement — pro·cure·ment n 1: the act of procuring 2: the purchasing, leasing, renting, or selling of materials, services, equipment, or construction Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
procurement — c.1300, use of improper influence, from O.Fr. procurement (13c.), from procurer (see PROCURE (Cf. procure)). Meaning process of bringing something about (by the action of another) is from c.1400. Military use is from 1957 … Etymology dictionary
procurement — noun /prəˈkjʊə.mənt/ a) The purchasing department of a company. He was responsible for the procurement of materials and supplies. b) The act of procuring or obtaining; obtainment; attainment. They think it done by her procurement. Dryden … Wiktionary
procurement — [[t]prəkjʊ͟ə(r)mənt[/t]] N UNCOUNT Procurement is the act of obtaining something such as supplies for an army or other organization. [FORMAL] Russia was cutting procurement of new weapons by about 80 per cent , he said. Syn: acquisition … English dictionary
Procurement — Approvisionnement Voir « approvisionnement » sur le Wikti … Wikipédia en Français
procurement — pro|cure|ment [ prə kjurmənt ] noun uncount 1. ) the process of buying supplies or equipment for a government department or company: defense procurement 2. ) FORMAL the process of obtaining something, especially with effort or difficulty … Usage of the words and phrases in modern English
procurement — UK [prəˈkjʊə(r)mənt] / US [prəˈkjʊrmənt] noun [uncountable] 1) the process of buying supplies or equipment for a government department or company defence procurement 2) formal the process of obtaining something, especially with effort or… … English dictionary