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procurement
(redirected from Competitive bid)

   Also found in: Medical, Legal, Financial, Wikipedia, Hutchinson 0.02 sec.

procurement

The fancy word for "purchasing." The procurement department within an organization manages all the major purchases.


procurement [prə′kyu̇r·mənt]
(ordnance)
The complete action or process of acquiring or obtaining personnel, materiel, services, or property from outside a military service by means authorized in pertinent directives.
More specifically, the action or process of acquiring or obtaining materiel, property, or services at the operational level, for example, purchasing, contracting, and negotiating directly with the source of supply.


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? Mentioned in ? References in periodicals archive
 
Robert Scott, chairman of the Valley Industry and Commerce Association, sent the superintendent a letter urging him to consider putting cafeteria services out to competitive bid.
Comair managers say the airline's ability to offer a competitive bid depends on whether it wins concessions from its unions.
Trammell Crow Company was selected through a rigorous, competitive bid process and emerged as the best choice to help us achieve our aggressive cost-savings goals through better asset utilization, consolidation of existing facilities and reduced operating expenses," said Frank Boyer, EDS vice president and chief supply officer.
 
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