Prudent purchasing

Why the confidence? Because qualified, trained supply chain managers know all about risk, and what's important to keep supply chains moving. According to the Institute for Government, a third of total public expenditure - around £284.bn each year - is spent on procurement. Only then can decisio...

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Bibliographic Details
Published in:Public Finance 2020-03 (3), p.18-18
Main Author: Harrison, Malcolm
Format: Article
Language:English
Subjects:
Cost control
Cost reduction
Government purchasing
Public sector
Sociopolitical factors
Suppliers
Supply chains
Online Access:Get full text
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Summary:Why the confidence? Because qualified, trained supply chain managers know all about risk, and what's important to keep supply chains moving. According to the Institute for Government, a third of total public expenditure - around £284.bn each year - is spent on procurement. Only then can decisions be made about whether savings are the best and only way to drive efficiencies in a department, or whether the real focus should be value across the supply chain and good risk mitigation? I urge professionals to monitor changes in supply chains, meet challenges head-on, and remain in control rather than letting sociopolitical and economic events take control of the procurement process.
ISSN:1352-9250