Procurement risks associated with contract awards

A procurement award achieves two critical objectives in both the public and private sector in the selection of the best or optimal product or service required by an organisation, and the selection of the specific supplier with that solution.

PURCHASING & SUPPLY: NYASHA CHIZU

Selection is necessary given that many suppliers would offer different solutions in the form of alternatives and substitutes that require critical analysis of the technical solutions in view of the business case and associated costs.

This story is for NewsDay subscribers.