Meaning of the word procurement in English

What does procurement mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

procurement

US /prəˈkjʊr.mənt/
UK /prəˈkjʊə.mənt/
"procurement" picture

Noun

the action of obtaining or procuring something, especially with care and effort

Example:
The procurement of raw materials is crucial for manufacturing.
Government procurement processes can be complex.