procurement

(redirected from Competitive bid)
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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.

procurement

The fancy word for "purchasing." The procurement department within an organization manages all the major purchases.
References in periodicals archive ?
LAUSD Real Estate Director Scot Graham said the division plans to conduct a separate competitive bid for a company to manage its property.
Winning this impressive contract through a competitive bid process is a strong validation of the performance, reliability, and durability of our HyPM power module technology," said Pierre Rivard, President and CEO, Hydrogenics Corporation.
City government refused to allow a competitive bid process until we spoke up.
Basic Service is procured through a competitive bid process and the resulting prices are passed through to customers without profit or mark up from the local distribution company.
Under a competitive bid feature and for so long as the Company maintains an Investment Grade Rating, the Company has the right to bid out 100% of the commitment amount.
Since December 28, 2001, when the New York City account issued a Request For Proposal (RFP), the account has been under renegotiation based upon a competitive bid process open to the company and other third parties.
At a public hearing held prior to the council's vote, some residents - including a private waste hauler - argued that putting waste-hauling services out to competitive bid would end a local monopoly and yield the best services possible.

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