The Procurement Act 2023 – A break from Married at First Sight

Vikki Stanley, Recruitment Projects Account Director, Peregrine

In the world of procurement, the old way of doing things often felt like a chaotic episode of Married at First Sight: you meet your vendor for the first time, sign a contract, and then hope for the best. It’s a whirlwind of decisions made under pressure, often leading to awkward arrangements and surprises no one signed up for.

But with the new Procurement Act 2023 on the horizon, we have an exciting opportunity to transform our procurement practices into thoughtful, well-planned partnerships. And with the implementation now set for 24 February 2025, this delay gives us the time we need to get ready.

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This delay means we’re no longer stuck in the hasty world of contract signing with the first supplier who shows up. Instead, we can take the time to ensure our procurement strategies align with the new National Procurement Policy Statement (NPPS). There's time to carefully craft your decisions instead of putting them together at the last minute. We can now focus on building real relationships rather than rushing into things.

Increasing engagement

This is our chance to actively participate in the NPPS consultation—and ensure you've given your team time to think it through. Meaningful dialogue can ensure your needs are met and that you don’t end up with an arrangement that doesn't serve you in the long term,

Together, suppliers and authorities can work like a cohesively to keep everyone on the same page and ensure the new regulations reflect our collective aspirations.

Flexibility for the future proposals

For those planning procurements in the coming months, this new framework gives us the flexibility to decide how we want to proceed. You can continue under current regulations while gearing up for the upcoming Act.

Now’s the perfect opportunity to reassess your approach, ensuring you’re not scrambling last minute to finalise your plans.

AI and inclusivity

Recent procurement conferences demonstrate that AI is revolutionizing the field. With 78% of SMEs using AI to overcome challenges, this technology is a game-changer for future success.

Let’s also prioritize inclusivity in our procurement strategies. Incorporating neurodiverse candidates, people of all ages, and minorities can add unique strengths that enrich our collective future. AI has the power to bake DE&I into our processes and outcomes

Social impact and ESG

Just like wedding vows should reflect the couple’s values, we need to incorporate social value and ESG (Environmental, Social, and Governance) considerations into our contracts. It’s not just about the ceremony; it’s about building a life together that positively impacts the community. Let’s leverage our supply chains for good, sharing success stories and fostering social impact. This is our chance to lead in ethical procurement, proving that our “marriage” with clients and communities is built on strong foundations.

Time to build relationships, not just focus on the contracts

This is our moment to not just adapt to the new regulations but to build strong, enduring relationships with our clients and suppliers. We’re not here to hope for compatibility; we’re here to lay the groundwork for lasting partnerships. Let’s use this time wisely to prepare for the future, ensuring our procurement practices are thoughtful, strategic, and built for the long haul.

2025 will be here before we know it, so let’s embrace this opportunity to strategize, engage, and lead the way into a new era of procurement. Because unlike Married at First Sight, we want our procurement partnerships to be more than just a fleeting romance—they should be a lasting commitment.

If you'd like in-depth discussion with Vikki on recruitment and procurement, get in touch with Vikki, she's keeping ahead of the latest developments.