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Currently, the Bank conducts procurement for these investment projects, putting pressure on internal procurementcapacity at the Bank, and missing an opportunity for domestic procurement teams to modernise their own countrys systems and upskill procurement teams.
Whilst the Independent Review looks back at the past 20 years, we are always looking to the future to drive forward the power of procurement. Earlier this year in April, we published the first-ever Public ProcurementStrategy for Scotland.
Similarly, Lithuania is now tracking the use of “green” criteria to promote the procurement of environmentally friendly products and services, and Paraguay uses machine-learning to advertise tenders suitable for small businesses. Check out our regional pages and newsletters for updates!
To some capacity, AI systems hold plenty of weight in greatly reducing the time spent on completing important procurement tasks. In another report, researchers found that by utilising artificial intelligence systems around the clock, organisations can reduce their time spent on mundane procurement processes by as much as 60 per cent.
Backward-looking data as a necessary evidence base It is notorious that the public sector’s management of procurement-related information is lacking. It is difficult enough to have access to information on ‘live’ tender procedures.
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