procurement
Definition 1
Acquisition: Complete process of obtaining goods and services—from preparation and processing of a requisition through to receipt and approval of the invoice for payment. Also called sourcing, it commonly involves (1) purchase planning, (2) standards determination, (3) specifications development, (4) supplier research and selection, (5) value analysis, (6) financing, (7) price negotiation, (8) making the purchase, (9) supply contract administration, (10) inventory control and stores, and (11) disposals and other related functions.
Definition 2
Law: See inducement (Definition 2(1)).
procurement is in the Corporate, Commercial, & General Law and Purchasing & Procurement subjects.
procurement appears in the definitions of the following terms:
advice,
failure free warranty,
commercial attaché,
value analysis,
economic order quantity (EOQ),
unfilled order,
materials management,
procurement hub,
competitive bidding,
life cycle costing
and
procurement appears in the other terms:
method of procurement (MOP),
procurement directive,
forward procurement,
procurement requirement,
central procurement,
single source procurement,
international Procurement Organization (IPO),
advance procurement,
procurement request,
competitive procurement
and
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