IPA: /prəˈkjʊrəmənt/
KK: /prəˈkjʊrəmənt/
The process of obtaining goods or services, often for business or government purposes.
The procurement of new equipment is essential for the company's growth.
Procurement is formed from "pro-" (meaning for or in favor of) and "curement" (from the Latin "cūrāre", meaning to care for or to take care of). The word refers to the act of obtaining or acquiring something, particularly in a formal or organized manner.
Think of 'for' ('pro-') and 'taking care of' ('cūrāre') to remember that procurement means obtaining something in a careful or organized way.