Transparency in Procurement: Challenges, Solutions & Emerging Trends
Operational transparency has become an important objective for purchasing departments around the world. Whether an organization is active in the public or private sector, an increased expectation of transparency during the procurement process has become the new normal. Purchasing is a complex field, involving many administrative and logistical challenges, and the impetus towards transparency at each stage of the process has evolved naturally as purchasing departments come under increased scrutiny during tough economic times. In this environment of increased oversight, procurement professionals are increasingly pressured to improve efficiency while reducing costs.
In this document, we will look at the net benefits of organizations implementing transparency in purchasing, as well as examine high-level regulatory initiatives being considered to facilitate global integration of transparency and equity regulations in procurement.
Nathan Munn | sourcesuite.com