Adapting procurement for a volatile market

By Paul Beeston 2023-11-24T07:00:00

Market volatility and economic headwinds have shifted industry focus towards dealing with the immediacy of that uncertainty, but we should not forget about longer-term solutions too, says Paul Beeston of RLB

Procurement in its truest sense is finding the best supplier of goods or services that meet your business objectives combined with the optimum cost, time, and value in employing them against this remit.

Over the past few decades, the built environment has developed systems that have helped us to navigate this procurement process – whether in the public or private sector. Using historic market data and trend analysis we could, in the majority of cases, predict tender prices and inflationary pressures resulting in contractors being happy in their margins and risk, and clients generally satisfied that they were getting value for money.

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