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Procurement
top   »  business   »  procurement

What is Procurement?

 , December 13, 2015 updated on August 13, 2018
Procurement is the process of acquiring goods and services from external sources. Government organizations are typically bound to follow laws and rules for procurement designed to ensure that suppliers and partners are chosen according to an open and fair process to avoid fraud. Businesses often adopt similar processes designed to achieve the lowest cost that meets all requirements using a transparent bidding process that encourages competition.
Overview: Procurement
TypeManagement
DefinitionThe process of acquiring goods and services from external sources.
Related ConceptsProcurement Management
Procurement Risk
Supply Chain Management

Procurement

This is the complete list of articles we have written about procurement.
Expediting
Logistics
Procurement
Procurement Risk
Purchasing
Reverse Auction
RFP
Sourcing
Supply Chain
Supply Shock
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