Transparency in public sector procurement is a challenge around the world. Legislation is in place in many countries to encourage responsible government spending on public services. In some places, private coalitions are forming to make sure that these laws are upheld. Most recently, Tanzania Contract Monitoring Coalition (TCMC) launched in Dar es Salaam, Tanzania, Africa.
Questionable activities were commonplace in the procurement industry long before the Procurement Integrity Act passed in the late 80s. From small-scale construction projects to multimillion dollar research and development proposals, there have been cases of espionage, bid tampering, and similar crimes. Penalties are harsh at any level, but contractors and procurement professionals working with federal…
Increasingly today, the work of a CFO has become much broader in the corporate world. They are often looked to by CEOs and other members of higher-management as a resource for information and assistance with other company-wide issues. Finding opportunities and figuring out profitable ways to use corporate finances is an important and vital part…
The ability to outsource specific tasks is a big help in many industries, but when it comes to procurement and supply chain management, is outsourcing really a worthwhile solution? Procurement outsourcing is beneficial, but also has disadvantages. It’s important to know a bit more before you decide to outsource.
Corruption and scandal are common in Miami Beach. Not even the local government can escape the temptation, particularly those in the procurement department. City officials arrested former procurement chief, Gus Lopez, last month on charges of bid tampering, illegal compensation, and racketeering.
The procurement industry is full of its share of headaches. Individuals working in supply chain management are faced with challenges everyday. You’ll find the biggest obstacles discussed below, along with tips to overcome them.
Information and communication technologies are vital to today’s government agencies, but the cost of ICT procurement is a sore point for Australian finance officials. According to a recent analysis of overall spending in New South Wales, ICT products alone account for over $2 billion each year, leading to several recommendations for budget cuts.