procurement

Definitions

The action of obtaining or procuring something, especially for a business or organization.

The process of purchasing goods, services, or works from an external source.

Examples

The company is currently overhauling its procurement process to reduce operational costs.

She has been working in the procurement department for over ten years.

The government announced new regulations regarding the procurement of medical supplies.

Synonyms

acquisition obtaining purchasing sourcing attainment securing gathering

Antonyms

disposal sale loss expenditure distribution giving surrender