Procurement

Procurement refers to the comprehensive process of acquiring goods, services, or works from external suppliers. It encompasses all stages of the purchasing cycle—from identifying needs and defining specifications, through competitive tendering, to evaluating proposals, awarding contracts, and managing delivery and performance.

In the public sector, procurement must comply with legal frameworks and uphold key principles such as transparency, competition, non-discrimination, and value for money. Particularly in the EU, public procurement law (e.g., Directive 2014/24/EU) governs how public authorities procure to ensure fairness, efficiency, and accountability. This includes setting thresholds, detailing procedures, and enforcing compliance.

Practically, procurement ensures that organizations—particularly contracting authorities—acquire what they need both effectively and fairly. It supports strategic planning, enables budget control, and protects public funds by encouraging market competition and rigorous evaluation. For suppliers, a well-regulated procurement landscape means equitable access to opportunities and clear expectations throughout the process.