Global Best Practice - Transparency
It's critical for public procurement to practice transparency in its practices, policies, processes, and relationships with stakeholders to gain and maintain the public's trust. It's also crucial to keep confidential information protected while still practicing transparency, which can be challenging for procurement professionals. There are several business benefits that entities can enjoy as a result of transparency, including increased competition and better value for goods, services, and construction. This practice offers step-by-step guides that procurement professionals can use to improve transparency within their organization. The topics covered in this practice include, how to integrate technology to achieve transparency, how to provide stakeholders with easy access to information, and finally, how to provide transparency within supplier relationships. It also discusses the recommended process procurement professionals and organizations should follow to achieve full transparency as individuals and as an entity.