r, pruh-]
verb, -cured, -cur⋅ing.| 1. | to obtain or get by care, effort, or the use of special means: to procure evidence. |
| 2. | to bring about, esp. by unscrupulous and indirect means: to procure secret documents. |
| 3. | to obtain (a person) for the purpose of prostitution. |
| 4. | to act as a procurer or pimp. |
Procurement
1. To attain possession of something, usually after exerting a substantial effort to do so.
2. The purchasing of something usually for a company, government or other organization.
Investopedia Commentary
Here are some examples of sentences using the word "procurement":
1. He was able to procure seats to the sold-out concert.
2. The company has a large budget for the procurement of office supplies.
Procurement is a term commonly used in the energy industry as many retailers must procure gas, electricity and/or other energy sources through trading activities, such as buying futures contracts.
Related Links
Economics Basics Tutorial
Futures Fundamentals
See also: Buy, Corporation, Hold, Liquidation, Sell