Finance Policy 15 – Procurement, Purchasing & Contract Management (FP15) has been recently updated with a view to making our processes simpler.
Why?
In 2022, Professional Services set out with the objective to reduce bureaucratic pain and strive for operational excellence. We, the Procurement & Contract Management Team, sought to meet this challenge by embracing our key principles: being easy to do business with, empowering our team, and doing things the right way by driving value for money through competition – and it’s these principles that have driven the new changes to the policy.
We’ve raised the thresholds at which different procurement processes take place, making it easier for Purchasers to use the one or two quote process as well as providing them the freedom and tools to carry out their own compliant procurement using a new Competitive Quotation Exercise process.
We’ve also increased contract signatory levels, allowing Heads of Faculty and Professional Services Finance to sign low and medium value contracts up to £100,000, and the Executive Director of Finance and Planning to sign up to £1,000,000 – helping to accelerate the signatory process.
If you’re looking to buy something over £25,000 please review our ‘how-to’ SharePoint page or check out our new microsite for further information.
Please keep checking in, as we are updating our broader guidance on how to make a purchase, and we are improving our procurement request page to make it a quicker and more user-friendly experience.
