Today, we will be discussing the upcoming procurement reforms set to be implemented in the UK by October 2024.
While the Cabinet Office emphasizes the streamlining and standardization of administrative processes to make procurement smoother and more efficient, industry experts urge businesses not to wait for the legislation to take action. Malcolm Harbour of the Connected Places Catapult association encourages companies to capitalize on existing procurement legislation to drive innovation and address pressing issues.
There is a need for new ideas, supplier cultivation, and knowledge acquisition to tackle challenges like achieving net zero, housing upgrades, and leveraging AI. However, caution is advised, as the benefits of the Procurement Bill may take time to materialize.