- The buying process is broken down in to three stages – planning, purchasing and managing.
- Different rules apply depending on the value of the purchase you are making
- You could save money by using existing contracts or teaming up with other schools so that you have more purchasing power.
Why is procurement important?
You must follow basic procurement regulations because your school spends public money. This will ensure that the money is spent in a way that is fair, open and good value for money. Your procurement decisions must be fair and open. Poor procurement decisions and a failure to comply with procurement legislation could result in legal challenges from suppliers, contracts being cancelled and financial penalties which can be costly, time-consuming and impact on your school’s reputation.
As a general guide, the higher the value of the purchase and the more public money you’re spending, the more stringently you should follow procurement rules.
