Oct 2, 2025 · What Is Procurement? Procurement is the process of buying or otherwise obtaining goods or services, typically for business or government purposes and usually on a relatively large scale.

OSP procures, or administers the procurement of, the equipment, goods, supplies and services needed by state agencies. As a result, the office has a joint role of regulatory compliance and customer service.

The term procurement is used to reflect the entire purchasing process or cycle, and not just the tactical components. Procurement software (often labeled as e-procurement software) manages purchasing …

May 15, 2025 · A clear, practical definition of procurement, with examples and context for finance, operations, and purchasing teams.

Jun 17, 2025 · It’s the tactical execution of ordering from suppliers that were vetted as part of the procurement process. Whether at the supply chain, procurement, or purchasing level, each of these …

In business, procurement refers to how companies acquire the goods and services they need from external sources to operate efficiently.

Procurement is defined as the process of obtaining goods and services crucial to organizational operations and profitability. The difference between procurement, sourcing, and purchasing is that …