Glossary
Procurement
Procurement is the end-to-end process of acquiring goods or services for an organisation: defining the requirement, finding and qualifying suppliers, requesting and comparing quotations, placing the order and receiving the goods.
Where it appears in procurement
Procurement sits between the operational need (a requirement) and the finance system (the purchase order and invoice). Compliance obligations attach to the goods themselves, so they belong in procurement, not after delivery.
Example
A packaging buyer needs 50,000 food-grade containers for the EU market. Procurement covers writing that requirement, finding suppliers who can prove food-contact compliance, sending an RFQ, comparing quotations and issuing a purchase order.
In Complyra
Complyra runs this workflow as a sequence: requirement, AI search, supplier discovery, compliance check, matching and ranking, RFQ, quotations, purchase order and ERP export.
Related
Related terms
Guides
- What is AI procurement? — AI Procurement
- Procurement automation guide: what to automate first — Procurement Automation