procurement policy
[prə-ˈkyur-mənt ˈpä-lə-sē]
nounpl: procurement policies
política de contratação
1. A set of guidelines, rules, and procedures established by an organization to govern the process of acquiring goods, services, or works from external suppliers
The company's procurement policy ensures that all purchases follow competitive bidding procedures.
A política de contratação da empresa garante que todas as compras sigam procedimentos de licitação competitiva.
2. Government regulations and standards that dictate how public institutions must purchase goods and services
Federal procurement policy requires transparency and fair competition among vendors.
A política de contratação federal exige transparência e competição justa entre fornecedores.
3. An organizational strategy aimed at optimizing costs, quality, and supplier relationships in the acquisition process
Our new procurement policy prioritizes sustainability and local supplier partnerships.
Nossa nova política de contratação prioriza a sustentabilidade e parcerias com fornecedores locais.
In Brazil, procurement policy is particularly important in government and public institutions due to strict regulations established by federal law (Lei de Licitações). In the USA, procurement policies vary by organization but are heavily regulated in federal contracting. The term reflects the formal, regulatory nature of acquisition processes in both countries, emphasizing compliance, transparency, and cost-effectiveness.
Related Idioms & Phrases
transparent procurement policy (política de contratação transparente)
open bidding procedure (procedimento de licitação aberta)
vendor selection criteria (critérios de seleção de fornecedores)
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