Pharmaceutical Drugs. PRINCIPLES OF PROCUREMENT Value for Money As a Public Body, the Trust is required to seek and demonstrate Value for Money (VFM) of all its spend. VFM is about obtaining the maximum benefit with the resources available. It is getting the right balance between quality and cost; as well as achieving the right balance between economy, efficiency and effectiveness, known as the 3E’s. VFM is best determined through the competition of a robust specification for goods, services or works in an appropriate market place and evaluated using the Most Economically Advantageous Tender (MEAT) methodology. Procurement Principles Procurement is governed by a set of EU and UK principles that set out to ensure a ‘level playing field’ for buyers and suppliers in which to conduct business. These principles legally apply to procurement activity above the EU Public Procurement Thresholds, currently circa £164k, however, the Trust will endeavour to apply the principles proportionately to all procurement activity regardless of spend. These principles are outlined in Tables 1.0 and 1.1 below: EU Derived Principles Transparency Procurement activity shall be advertised appropriately to ensure market visibility and provide clear information with regards to the process, contractual requirements, performance and the method/s of evaluation being used in the determination of a successful bid. Proportionality The approach taken in any given procurement activity will be proportionate to the level of complexity, impact, risk and value of the activity as to not prevent or discourage bidders. Equality Ensuring that all providers and sectors have equal opportunity to compete where appropriate, that financial and due diligence checks apply equally and are proportionate, and that pricing and payment regimes are transparent and fair. Non-Discriminatory The consistent application of the Regulations and Trust rules to all procurement activity to ensure that no member state supplier is prevented from participating in an EU Tender on the grounds of nationality, or subject matter of the contract. Mutual Recognition Member states will recognise equivalent measures of qualifications, standards etc. Table 1.0 – EU Principles of Procurement UK Principles Favour Competition Procurement activity should be undertaken in a competitive environment to aid in demonstrating the EU and UK principles as well as VFM.
Pharmaceutical Drugs. PRINCIPLES OF PROCUREMENT Value for Money As a Public Body, the Trust is required to seek and demonstrate Value for Money (VFM) of all its spend. VFM is about obtaining the maximum benefit with the resources available. It is getting the right balance between quality and cost; as well as achieving the right balance between economy, efficiency and effectiveness, known as the 3E’s. VFM is best determined through the competition of a robust specification for goods, services or works in an appropriate market place and evaluated using the Most Economically Advantageous Tender (MEAT) methodology. Procurement Principles Procurement is governed by a set of EU and UK principles that set out to ensure a ‘level playing field’ for buyers and suppliers in which to conduct business. These principles legally apply to procurement activity above the EU Public Procurement Thresholds, currently circa £164k, however, the Trust will endeavour to apply the principles proportionately to all procurement activity regardless of spend. These principles are outlined in Tables 1.0 and 1.1 below: EU Derived Principles Transparency Procurement activity shall be advertised appropriately to ensure market visibility and provide clear information with regards to the process, contractual requirements, performance and the method/s of evaluation being used in the determination of a successful bid. Proportionality The approach taken in any given procurement activity will be proportionate to the level of complexity, impact, risk and value of the activity as to not prevent or discourage bidders. Equality Ensuring that all providers and sectors have equal opportunity to compete where appropriate, that financial and due diligence checks apply equally and are proportionate, and that pricing and payment regimes are transparent and fair. Non-Discriminatory The consistent application of the Regulations and Trust rules to all procurement activity to ensure that no member state supplier is prevented from participating in an EU Tender on the grounds of nationality, or subject matter of the contract. Mutual Recognition Member states will recognise equivalent measures of qualifications, standards etc. Table 1.0 – EU Principles of Procurement UK Principles Favour Competition Procurement activity should be undertaken in a competitive environment to aid in demonstrating the EU and UK principles as well as VFM.