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In other words, smart procurement also considers the potential social and developmental impacts of public spending, rather than solely focusing on rule compliance or the cost of resources. Improved procurementstrategies could reduce public debt by as much as 1.8% of GDP, according to FISLAC calculations.
Collaboration and strategic partnerships can work well for these commodities, where a long-term relationship is established with one or two vendors. Organizational Objectives What are the organization’s procurement objectives? A fulsome understanding of these constraints is needed as they impact what is possible for the strategy.
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