Remove Balance Remove Contract Management Remove Procurement Contracts
article thumbnail

Smart Public Procurement for Better Public Spending in Latin America and the Caribbean

Inter-American Development Bank

Thus, smart public procurement can be defined as the strategic process of making the best decisions that minimize waste while enhancing the quality and efficiency of public spending. Better contracts and processes, for example, could reduce the risk of delays, quality problems or unexpected costs. Source: Authors’s elaboration.

article thumbnail

The Public Procurement Glossary

Tracker Intelligence

Awarding the Contract The winning supplier is selected based on clear criteria, ensuring fair and competitive procurement. Contract Management Once the deal is signed, contract management ensures the supplier delivers as promised. E-Procurement It is the digital way of handling public purchasing.

article thumbnail

Ivalua Now and the Art – or is it the Science – of Procurement?

ivalua

It’s a style of working that produced innovative thinking – but by its nature, could be hit and miss; where “miss” could have a significant negative impact to an organisation’s balance sheet. But now with strategic sourcing and category management, the process has become much easier to track, monitor and control.