Procurement Policy 2025 to 2029 - including the Social Value statement - Delivering best value through seeking value for money

Value for money (VFM) is paramount in fulfilling our commitment to local taxpayers and delivering public services efficiently. This means optimising the use of public funds by balancing effectiveness, efficiency and economy over the life-cycle of a product, service or works to achieve the intended outcomes of the procurement. This includes wider socio-economic and environmental benefits and impacts.

We will do this by:

• ensuring procurement opportunities align with Council strategic objectives and vision – devising procurements to best achieve those outcomes
• maintaining consistent approaches and processes to how we procure
• undertaking early market engagement (where appropriate, proportionate and commensurate with the need)
• considering the use of collaboration & economies of scale to secure favourable pricing/ fees
• support commissioners and project leads to develop outcome based tender specifications – where we specify the outcome NOT the solution
• seeking out innovation in our own sphere of influence but also challenge suppliers to be innovative in theirs
• considering contract performance standards and applying proportionate penalties, where appropriate, therefore holding suppliers to account
• considering open book accounting/ profit share in larger contracts i.e. service outsourcing or strategic delivery partnerships
• support contract managers to maintain dialogue/ feedback with suppliers to ensure outcomes delivered within or below budget and support skills development to enable them to incorporate suitable processes to monitor the contracts help identify savings and efficiency opportunities