How to extract more value from your procurements

Abstract

In managing public works, the effective utilisation of procurement processes stands as a cornerstone for achieving organisational goals. This presentation is dedicated to exploring strategies and methodologies aimed at optimising procurement practices to enhance efficiency, reduce costs, and foster innovation within the public sector. This session will equip attendees with practical insights and actionable strategies to elevate their procurement capabilities and drive sustainable value creation for their businesses.

This session will cover: • Technological Integration for Streamlined Procurement: o Embracing digital platforms and procurement software to automate workflows and enhance transparency o Utilising data analytics for informed decision-making and proactive management of procurement cycles • Implementing Sustainable Procurement Practices: o Incorporating environmental, social, and economic considerations into procurement strategies o Establishing criteria for evaluating suppliers based on sustainability metrics and ethical standards • Strategic Supplier Relationship Management: o Developing collaborative partnerships with suppliers to foster innovation and continuous improvement o Implementing performance metrics and feedback mechanisms to ensure accountability and value delivery • Cost Optimization and Value Enhancement: o Conducting thorough cost-benefit analyses and lifecycle assessments to optimize procurement decisions o Negotiating favourable terms and conditions while maintaining quality standards and compliance • Enhancing Procurement Governance and Compliance: o Strengthening internal controls and governance frameworks to mitigate risks and ensure regulatory compliance o Educating stakeholders and staff on best practices and ethical guidelines in procurement processes