PROC meaning in Governmental ?

Answer: What is Procurement mean?

Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.

Procurement generally involves making buying decisions under conditions of scarcity. If sound data is available, it is good practice to make use of economic analysis methods such as cost-benefit analysis or cost-utility analysis.

Procurement as an organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion.

Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations. Organisations which have adopted a corporate social responsibility perspective are also likely to require their purchasing activity to take wider societal and ethical considerations into account.

reference

Full Form	Category
PROCeedings of the IEEE	Academic & Science
Periodic Review Oversight Committee	Community
Procedure	Computing
Precompiler in C	Computing
Peoples Republic Of Cork	General
Programmed Random Occurrence	General
Plymouth Road Office Complex	General
Personal Rules Of Conduct	Governmental
Puerto Rico's Official Clan	Governmental
Procurement	Governmental
Puerto Rican Operations Center	Governmental
PROcaine hydroChloride	Medical