procurement


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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 ?
'We understand that the government spends so much on projects, contracts and in doing that, it requires a strategy to position the regulatory agency in a manner whereby corruption tendencies are minimized and project abandonment is reduced because if BPP is not well positioned, then the agency will not be in a position to tackle some of the challenges that people naturally see from time to time in procurement processes,' he explained.
Other gaps in these regulations include no mention of cooperative procurement to allow agencies to aggregate their orders and enjoy a better rate, unclear view on negotiations and no provisions for delayed payment compensation or performance-based procurement.
Fair in public procurement means to create a level playing field for all businesses across, treating all bidders equally, decision-making actions must be unbiased, and no preferential treatment should be extended to individuals or organizations.
'There is obvious set of lapses in the procurement and again we have to emphasize that the procurement of Mahindra from the bidding process to the procurement was not done by the PNP BAC (Bids and Awards Committee) but by the procurement service of the DBM.
one posed.Having appended a professional opinion the procurement officers automatically become accomplices in case a corruption allegation arises.
The provincial food department revised the official wheat procurement target down to 3.81 million tons due to a muted response from the farmers.
"The Procurement Middle East Conference offers a great platform for companies and like-minded industry players to exchange dialogue and gain insights into managing procurement strategies while understanding how advancements in technologies can help redefine business," he concluded.
SpendEdge shares your passion for driving sourcing and procurement excellence.
However, with the advent of technology, automation of the procurement process can now be done which can help achieve the best results for your procurement projects.
The plan would include restructuring of PPRA and standardisation of the methodology for assessment of national procurement system.
Arif Nasib, General Manager Procurement and Services, PSO, opened the house by delivering the welcome note and address.
According to Hotelier Middle East's Hospitality Procurement Report 2016, procurement skills among professionals in the region are largely "outdated".

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