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Financial Definition of PROCUREMENT
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Definition of purchasing: The activity of acquiring goods or services to accomplish the goals of an organization. The major objectives of purchasing are to (1) maintain the quality and value of a company's products, (2).

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Purchase definition, to acquire by the payment of money or its equivalent; buy. See more.

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Legal Definition of purchase.: an act or instance of purchasing: as a: the acquiring of real property by any means other than descent or inheritance b: the acquiring of an interest in property especially in exchange for valuable consideration — see also word of purchase. On a tot of campuses, purchasing is the whipping boy," says Victoria Windley, director of Procurement Services at University of Delaware. Purchasing power: new procurement strategies and systems save time and money--serious money.

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procurement What It Is. Procurement is a purchasing process that controls quantity, quality, How It Works. Procurement may be a simple purchasing arrangement with a supplier. Why It Matters. Primarily, a procurement process ensures that the company's purchasing is legal Definition of procurement. Purchasing power is the value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal.