Value for Money
The University’s Procurement Strategy is primarily about maximising Value for Money (VFM). VFM embraces elements of lowest cost, fitness for purpose, value engineering, security of supply, risk management, opportunity costs, demand management and innovation.
Other considerations such as equality, sustainability (in the widest sense), and programme and policy delivery are equally important, to support the University's Outcomes Agreement with the Scottish Funding Council and Scottish Government; and to reflect the University’s ethical trading standards through its approach to procurement.
This strategy is a key enabler of the University's 2013 – 2018 Strategic Plan.