Procurement (Noun)
Meaning
The act of getting possession of something; "he was responsible for the procurement of materials and supplies".
Classification
Nouns denoting acts or actions.
Examples
- The company's procurement department handled all the purchases for the new project, from office furniture to high-tech equipment.
- She oversaw the procurement of necessary tools and resources to keep the team working efficiently during the long renovation process.
- Effective procurement strategies helped the business save thousands of dollars in costs and reduced waste significantly.
- The team was responsible for procurement and management of the complex logistics involved in this particular operation.
- The organization established clear policies and procedures for procurement to minimize the risk of corruption and mismanagement of funds.