procurement

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Procurement

The act of buying, especially for business purposes. This term is often used in the energy industries; for example, one may procure oil in order to refine it.
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procurement

see PURCHASING, BUYING PROCESS.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson