Procurement strategies need to reflect market conditions

Our annual Procurement Trends report, now in its fifth year, aims to give you the data, insights and analysis you need to understand what is changing in procurement within the UK construction industry.

This year our findings reveal how procurement practices are continuing to evolve in response to volatile market conditions. Our survey shows how important it is for procurement strategies to reflect market conditions, and never more so than when the market is dynamic and fast-moving.

Against this backdrop, it is encouraging to see clients and contractors working more closely together to strengthen the resilience of their supply chains. As an organisation that sits within this procurement ecosystem, we understand the importance of collaboration, sharing knowledge and working together to drive industry-wide improvements.

A successful procurement strategy will meet the client’s objectives, but also understands market context and what the supply chain finds viable. The graphic below demonstrates the importance of context.

This report’s findings will help you make informed decisions on critical points such as the type of contract, the route to market and appropriate value selection criteria. By making the right procurement choices, project teams will be able to procure better outcomes.