Business Management
Staying compliant when using labour hire contractors
Do you know your responsibilities for workers’ rights and wellbeing when using a labour hire contractor? Slavery, tragically,…
The Procurement Cycle is generally known as a six-part process, involving:
- Strategic planning: ensuring the purchasing decision benefits your business in the long-term rather than only serving your immediate needs.
- Needs identification: analysing exactly what is required in order to source the right product or service at the right time.
- Tendering/Sourcing: Analysing the market to shortlist the best suppliers, or inviting suppliers to bid for your business.
- Evaluation and selection: Choosing the right supplier and evaluating benefits beyond the lowest price.
- Negotiation and award: Negotiating and agreeing upon contract terms.
- Contract management: Setting up KPIs and milestones to ensure the supplier delivers to contract.
Procurement can bring value to your organisation through:
- Discovering and working with new suppliers
- Analysing your spend to understand costs such as over-ordering and duplication
- creating better contracts
- Increasing your negotiating and purchasing power
- Driving innovation in the supplier base
- Gaining other benefits beyond getting the lowest price, such as environmental benefits
