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Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategic sourcing.
You can also use its eSourcing solution to create RFPs, receive bids from qualified suppliers, analyze supplier performance and managecontracts in one place. Ivalua’s ContractManagement module allows you to easily track milestones and consumption in real time across multiple agreements.
We welcome a guest blog from Laura Johnstone-Continuous Improvement lead for the Scottish Government’s Digital Assurance Office (DAO). In our analysis of recommendations from major digital reviews we have found three distinct themes relating to procurement and contractmanagement.
This would result in large monetary and transactional savings for governments because, for example, approximately 25% of public contracts in the region require time extensions averaging nearly double their original terms, while around 13% experience budget increases of up to 50%. of GDP, according to FISLAC calculations.
The Government has now launched a National Procurement Policy Statement stakeholder survey, inviting input from the public sector and suppliers regarding procurement priorities. It is also worth pointing out that the NPPS does not apply procurements by devolved authorities who will have their own procurement policy documents.
Courses designed for this purpose do more than just impart knowledge; they shape the future of procurement by fostering a deep understanding of its principles and practices. The impact of such training is significant, leading to more streamlined procurement processes and better decision-making in supply chain management.
The technology’s inherent characteristics support a more transparent and efficient procurement process, laying the groundwork for significant reforms in public sector procurementstrategies. Such transparency is crucial for detecting and preventing fraud, thereby enhancing the integrity of public procurements.
Effective procurement practices allow the establishment of a closed-loop circular supply chain that helps deliver more efficiency, from end-to-end and supports the formalisation of different services, including e-waste management, recycling, resource sharing, and supplier regulatory development.
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