Businesses must understand the key differences between the public and private procurement methods, regulations, and goals when considering tender opportunities in either sector. This article, which compares public and private procurement, gives suppliers the confidence to move in both markets.

Why Procurement Differs Between the Public and Private Sectors

Procurement in the public and private sectors has very different goals and regulatory frameworks. The fundamental goals of public procurement are to get value for money, to be open and fair in procurement processes, and to use taxpayer funds effectively. However, private sector procurement is concerned with cost-effectiveness and competitive advantage to ensure profits.

Author: Grahame Steed