sharedprocurement
nounUK /ʃeəd prəˈkjʊəmənt/
US /ʃɛrd prəˈkjʊrmənt/
When two or more groups buy things together to get a better deal.
The two schools used shared procurement to buy new computers at a lower price.
OTHER MEANINGS
2. A team or office that handles buying for several departments at once.
The shared procurement team ordered supplies for every branch.
3. The process of combining orders from different places into one big order.
Shared procurement helped the hospitals get masks faster.
4. An agreement between organizations to buy goods together.
They signed a shared procurement deal to save money on paper.