Explain five objectives of a well governed procurement system in your country.
Five objectives of a well governed procurement system in your country.
- To maximizes economy and efficiency;
This means that the purchases are not wasteful; they are based on market prices and can generate savings. It also means that bad practices such as carelessness leading to wastage, wear and tear of stocks, over invoicing, unplanned expenditure, shortage of goods when needed, poor quality products and similar factors are to be avoided. The expectation is that suppliers will be developed, will grow and consequently, the citizens will see the benefits of public procurement through increased provision of quality goods and services.
- To promote fair competition;
- To promote integrity;
- To increase transparency and accountability and promote local industry
- To increase public confidence in those procedures.