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Publicprocurement spending accounted for an average of 30% of total public spending across the region [1] and as much as 74% of that spending is wasted due to inefficiencies [2] , according to data from FISLAC , an analytics platform developed by the IDB’s Fiscal Management Division (FMM). What is Smart PublicProcurement?
Publicprocurement these days is not just about acquiring goods and public services at low costs. Social value is a transformative approach shaping how public contracts are awarded and executed. What Is Social Value In PublicProcurement? Why Does Social Value Matter In PublicProcurement?
As these systems begin to play a more important role, the government needs to uncover the risks associated with using artificial intelligence in procurement, and what steps need to be taken to manage these risks effectively. The UK Cabinet Office published the Procurement Policy Note (PPN 02/24). What is PPN 02/24?
The intention is to encourage consideration of ways to simplify and open opportunities for SMEs to efficiently participate in more publicprocurements. The suggestions apply to all segments of competitive bidding, including the SME segments of Supplier Diversity, Indigenous and Social Procurement.
The 3rd party becomes the buying agency and represents the interests of the public entity. The 3rd party is responsible to maintain the technology for administrative efficiencies and remain current with legislative mandates in publicprocurement. The balance between savings and values needs to be part of the conversation.
Photo credit: Flickr While carrying out research on the impact of digital technologies for publicprocurement governance, I have realised that the deployment of artificial intelligence to promote sustainability through publicprocurement holds some promise. In my view, it should be a matter of high priority. *
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