Procurement - GCSE Business Definition
Reviewed by: Lisa Eades
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Procurement is how a business buys the goods and services it needs to operate. This includes choosing reliable suppliers, negotiating prices, and making sure everything arrives on time and meets quality standards. Managing procurement well helps businesses stay competitive and meet customer demand efficiently.
For example, a restaurant needs to procure fresh ingredients, while a clothing brand must source fabric from manufacturers.
In GCSE Business, understanding procurement helps you see how businesses control costs, avoid delays, and keep things running smoothly. Without good procurement, a shop might run out of stock, or a factory could stop production.
Procurement Revision Resources to Ace Your Exams
Save My Exams has a great range of resources to explore the topic of procurement further.
Read our GCSE Business revision notes on procurement, or test your knowledge of procurement in our exam questions to improve your grades.
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