Public/Social Value  |

Subscribe to the monthly newsletter updates

Banc-leaderboard-advert-1430px-x-145px_final
ANW_Sidebar

BIF sidebar default

net zero wales button
4 October 2024

It’s Time for Procurement to Move from the Shadows into the Spotlight


GUEST COLUMN:

Grahame Steed
Director of Public Policy and Research, BiP Solutions
Event Organiser, Procurex Wales

For more than 40 years, BiP Solutions has been at the forefront of public procurement, helping to shape and support the sector across the UK.  

From our base in Glasgow, we've had the privilege of watching the evolution of procurement practices, not only across Scotland but throughout the entire UK. And I have to say, this is one of the most exciting periods I’ve seen in the procurement world. 

We will be hosting Procurex Wales on November 5, which is a fantastic opportunity for buyers and suppliers to come together, exchange ideas, and explore the future of procurement. It’s also a timely platform to delve into the implications of the new Procurement Act, which represents a significant shift in how we approach public spending in Wales and beyond. 

At BiP, we’re seeing a growing recognition that procurement is no longer just a transactional process. It’s evolving into a strategic tool with the power to drive broader social, environmental, and economic outcomes. Increasingly, public procurement is being seen for what it really is – a lever for change. Whether it’s tackling climate change, supporting net zero goals, or driving economic regeneration, the role of procurement has expanded to address critical societal challenges. 

Public spending, when directed with intent and vision, can unlock tremendous value, far beyond the immediate purchase of goods or services. For example, procurement has a vital role to play in fostering social value, ensuring that the way public funds are spent supports local communities, promotes equality, and builds a sustainable future. It’s clear that the impact of procurement is far-reaching – and the new Procurement Act presents an incredible opportunity to harness that potential in new and exciting ways. 

What excites me most about the Procurement Act is the fresh thinking and innovation that underpin it. The Act signals a clear move towards more thoughtful, outcomes-based procurement. Instead of focusing solely on cost and efficiency, it encourages public sector buyers to think about broader value. What long-term benefits can this purchase bring? How can we use procurement to support economic regeneration or to meet our climate targets? These are the kinds of questions the Procurement Act allows us to explore in new ways. 

This moment also represents a significant opportunity for the procurement profession itself. Traditionally, procurement has been something of a back-office function – necessary, but often overlooked. Over the last few years, however, that has changed dramatically. Procurement is stepping out of the shadows and into the spotlight, recognised not just for its administrative function but for its strategic importance. 

Procurement is now seen as central to achieving government and organisational goals. We’re finally seeing the appreciation that procurement professionals have long deserved – and with that comes the chance for the profession to take a more prominent and strategic role in shaping public policy and driving positive change. 

The challenges facing society today – from economic recovery to climate change – are significant, but the tools to address these challenges are right at our fingertips. Procurement is one of the most powerful tools we have, and the current regulatory and policy environment is creating a space where its potential can truly be realised. 

At BiP, we’re thrilled to be part of this journey, and we’re looking forward to seeing the innovations and collaborations that come out of events like Procurex Wales. We believe that by bringing together buyers, suppliers, and policymakers, we can continue to push the boundaries of what public procurement can achieve. 

This is a pivotal moment for procurement. The ideas and changes we implement today will have a lasting impact on our communities, our economy, and our environment. I, for one, am excited to see where this journey will take us – and I’m confident that procurement is ready to rise to the occasion. 



bnw MEET THE TEAM AD

public _ podcast image

Columns & Features:


Related Posts:

Business News Wales //