Procurement vs Provision - What's the difference?
procurement | provision |
(uncountable) The purchasing department of a company.
(countable) The act of procuring or obtaining; obtainment; attainment.
Efficient contrivance; management; agency.
An item of goods or supplies, especially food, obtained for future use.
* Francis Bacon
* Milton
The act of providing, or making previous preparation.
Money set aside for a future event.
(accounting) A liability or contra account to recognise likely future adverse events associated with current transactions.
(legal) A clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso.
(Roman Catholic) Regular induction into a benefice, comprehending nomination, collation, and installation.
(UK, historical) A nomination by the pope to a benefice before it became vacant, depriving the patron of his right of presentation.
As nouns the difference between procurement and provision
is that procurement is the purchasing department of a company while provision is an item of goods or supplies, especially food, obtained for future use.As a verb provision is
to supply with provisions.procurement
English
(wikipedia procurement)Noun
- He was responsible for the procurement of materials and supplies.
- I have a lot of experience in the procurement of construction materials and sub-contracts.
- They think it done by her procurement . -Dryden.
Derived terms
* chief procurement officerprovision
English
Noun
(en noun)- making provision for the relief of strangers
- And of provisions laid in large, / For man and beast.
- (Shakespeare)
- We increased our provision for bad debts on credit sales going into the recession.
- An arrest shall be made in accordance with the provisions of this Act.
- (Blackstone)
