Procurement

Definition

Procurement refers to the process of acquiring goods, services, or works from an external source, often through a competitive bidding process. It encompasses the activities involved in identifying needs, selecting suppliers, negotiating contracts, and acquiring resources necessary for an organization to operate effectively.

Synonyms

• Acquisition
• Sourcing
• Purchasing
• Buying
• Obtaining
• Procurement process
• Supply management
• Contracting

Antonyms

• Disposal
• Liquidation
• Selling
• Divestment

Examples

1. The company has streamlined its procurement process to reduce costs.
2. Effective procurement strategies can significantly enhance operational efficiency.
3. The procurement team is responsible for selecting the best suppliers.
4. She oversees all procurement activities for the organization.
5. The procurement of raw materials is critical to the production schedule.
6. They implemented new software to manage their procurement more effectively.
7. The procurement process involved multiple rounds of negotiations.
8. His role in the procurement department requires strong analytical skills.
9. The organization focuses on sustainable procurement practices.
10. We need to improve our procurement practices to stay competitive.
11. The procurement of services was completed ahead of schedule.
12. Procurement regulations vary by industry and location.
13. She was praised for her effective procurement strategies.
14. The procurement of office supplies is typically handled quarterly.
15. They conducted a market analysis before starting the procurement process.
16. The procurement of new technology requires careful planning.
17. They are reviewing their procurement policies to ensure compliance.
18. The procurement team negotiated better terms with the supplier.
19. We are currently assessing our procurement needs for the upcoming year.
20. The procurement of high-quality materials is essential for product success.
21. He specializes in international procurement and logistics.
22. The procurement committee will meet next week to evaluate bids.
23. A transparent procurement process fosters trust among stakeholders.
24. The procurement cycle can be lengthy and complex.
25. They faced challenges during the procurement of critical supplies.
26. The procurement strategy was aligned with the company’s overall goals.
27. Procurement decisions must consider both cost and quality.
28. She attended a workshop on best practices in procurement.
29. The procurement of services from freelancers is becoming more common.
30. The procurement report highlighted areas for cost savings.
31. The procurement function is essential for any large organization.
32. They used e-procurement tools to enhance efficiency in their procurement process.
33. The procurement of government contracts often involves strict regulations.
34. Their procurement strategy incorporates sustainability measures.
35. The procurement lifecycle includes planning, sourcing, and payment.
36. Procurement officers play a key role in managing supplier relationships.
37. The procurement of medical supplies surged during the health crisis.
38. They are developing a new procurement framework to improve operations.
39. The procurement process should be transparent and fair.
40. The organization aims to optimize its procurement workflow.
41. Procurement training is crucial for staff in this department.
42. The procurement policy outlines the guidelines for purchasing.
43. They faced delays in the procurement of essential equipment.
44. The procurement of IT services is often outsourced.
45. A strategic approach to procurement can lead to significant savings.
46. The procurement of supplies was disrupted by global shipping issues.
47. They implemented new criteria for procurement evaluations.
48. The procurement team is working on a new vendor selection process.
49. The procurement of innovative solutions is a priority for the project.
50. She was appointed to oversee the company's procurement operations.
51. The procurement function requires collaboration across departments.
52. They are reviewing the current procurement contracts for renewal.
53. The procurement guidelines were updated to reflect new regulations.
54. He is responsible for the procurement of construction materials.
55. The procurement process can impact the bottom line significantly.
56. They outsourced their procurement function to improve efficiency.
57. The procurement director presented the annual report to the board.
58. The procurement of food supplies for the event is underway.
59. They emphasized ethical procurement in their supplier selection.
60. The procurement system was designed to minimize waste.
61. Delays in procurement can lead to project setbacks.
62. The procurement of software licenses needs to be managed carefully.
63. She has extensive experience in government procurement.
64. The procurement of office furniture was part of the renovation project.
65. They are committed to enhancing their procurement practices.
66. The procurement analysis revealed opportunities for cost reductions.
67. The procurement of services was handled by a specialized team.
68. They are exploring digital solutions for procurement management.
69. The procurement of educational materials is essential for schools.
70. The new procurement policy emphasizes local sourcing.
71. They are finalizing the procurement of construction contracts.
72. The procurement process is crucial for maintaining supply chain integrity.
73. She leads the procurement efforts for all international projects.
74. The procurement procedures were revised to enhance accountability.
75. They conducted an audit of the procurement activities last year.
76. The procurement of promotional materials is part of the marketing strategy.
77. The procurement team is evaluating potential vendors.
78. The procurement of technology upgrades is planned for next quarter.
79. They adopted a new approach to procurement to improve timelines.
80. The procurement decision was based on thorough research.
81. They are assessing the risks associated with their procurement practices.
82. The procurement timeline was adjusted to meet project deadlines.
83. The procurement of safety equipment is a top priority.
84. She is leading a seminar on effective procurement strategies.
85. The procurement department is working on a vendor management program.
86. They are facing challenges in the procurement of rare materials.
87. The procurement process requires input from various stakeholders.
88. They are analyzing the procurement data to identify trends.
89. The procurement strategy will evolve with market demands.
90. The procurement of event logistics was carefully planned.
91. They are committed to diversity in their procurement practices.
92. The procurement of renewable energy sources is on the agenda.
93. The procurement team is focused on building long-term relationships with suppliers.
94. They established benchmarks for evaluating procurement performance.
95. The procurement of services is often subject to bidding wars.
96. They are collaborating with suppliers to enhance their procurement strategies.
97. The procurement of new vehicles for the fleet is underway.
98. They are utilizing technology to streamline their procurement processes.
99. The procurement policy promotes fair competition among vendors.
100. Effective procurement helps organizations reduce costs and improve quality.