procurement(redirected from Competitive bid)
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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.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
procurementThe fancy word for "purchasing." The procurement department within an organization manages all the major purchases.
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