noun the act of obtaining or acquiring something, typically through effort or a process
In project management, procurement refers to the process of obtaining goods and services needed to complete a project within budget and on time.
Procurement involves the process of sourcing, purchasing, and acquiring goods and services to ensure the smooth operation of the supply chain.
Procurement is essential for businesses to acquire the necessary resources and materials to carry out their day-to-day operations efficiently.
Procurement plays a critical role in government contracting by ensuring that public funds are spent wisely on goods and services that meet the needs of the government and its citizens.
In the context of a writer, procurement may refer to the process of acquiring research materials, interviewing sources, or obtaining permissions for use of copyrighted materials.
For a psychologist, procurement may involve obtaining assessment tools, research participants, or specialized equipment for conducting experiments or providing therapy.
In the role of a supply chain manager, procurement is a key responsibility that involves sourcing suppliers, negotiating contracts, and ensuring timely delivery of goods and services.
For a project manager, procurement includes identifying project requirements, selecting vendors, and managing the procurement process to ensure project success within budget and timeline.
In the context of a government official, procurement may involve following strict regulations and procedures to acquire goods and services for public projects while ensuring transparency and accountability.