Take a look at the highlights from the annual Procurement Value for Money report. Image Graph shows the VFM delivered by the University’s procurement team over the last 4 years, excluding any collaborative savings. Over the years, internal plans have been developed for improving the organisational value for money of the University. This means we embed value for money in our decision-making, we measure our performance each year, and we aim to procure goods and services effectively. As well as this, we try and make best use of our staff, office space and technology. All this helps us to carry out our activities at lower cost, or with greater efficiency and effectiveness. Each year, we produce a Value for Money Report which reviews our value for money processes and initiatives within Procurement and the wider University. Highlights Here are some of the highlights from the VfM Report 2020/21: · £17.4 million vfm delivered from University sourced contracts · £2.2 million vfm delivered from collaborative contracts · 159 regulated procurements completed · £86 million value of new contracts awarded in 20-21 These figures show that over the course of the year, the University is saving money through effective procurement, collaborative cross-University working and strong regulation in this area. This article was published on 2024-07-01
