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Solution: An open procurement approach, such as agile procurement methodologies and flexible frameworkagreements, facilitates quicker decision-making and increases adaptability to emerging technologies. Solution: Open contracting fosters competition among vendors, reducing costs through competitivebidding.
This analysis will explore the main NAO findings, look at their wider significance and propose steps to reinvigorate competition in government procurement. Public sector procurement is driven by competition to achieve economic efficiency and stimulate innovation, providing new ways to deliver vital goods and services.
Government procurement refers to the purchase of common goods, works and services by government agencies, usually from private sector suppliers. It can’t go bankrupt and has an obligation to pay its suppliers on time — within 30 days. It shows your business has excelled in the competitivebidding process.
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