Power and Water Corporation is among 15 Australian companies recognised for having adopted international best practice in procurement and supply chain management.
Power and Water has attained the Procurement Excellence Programme Award (Standard) from the Chartered Institute of Procurement and Supply (CIPS). Worldwide, only 96 companies have achieved these standards.
Chief Procurement Officer, Justin McKenzie, said this achievement demonstrated the corporation’s professionalism and commitment to high standards in its procurement practices.
“Achieving the Procurement Excellence Standard through CIPS provides a credible vehicle for us to achieve a mature procurement capability and the ability to benchmark against our industry peers,” Mr McKenzie said.
“This level of accreditation provides the Power and Water Board and the Northern Territory Government the assurance that our sourcing mechanisms have been validated by an external peak body and that we meet global best practice.”
Mr McKenzie said the accreditation also highlighted Power and Water’s commitment to delivering its supply chain outputs in a fair, transparent and ethical manner.
“The benefit of this to our customers and suppliers is that they know they are working with an organisation striving to control the source-to-contract process and who are committed to building local relationships,” Mr McKenzie said.
Power and Water spends approximately $600 million per annum on the selection, acquisition and delivery of goods, services, minor works and information systems, among others.
In the last financial year, almost 90 per cent of contracts were awarded to NT enterprises.
At this level of the award, Power and Water was certified to have demonstrated robust and effective governance in place for supply assurance and compliance.
CIPS accreditation is also used by industry peers including Energex, TransGrid and Western Power.
The standards exist to help promote good practice in the industry, continuous improvement in professional standards and raising awareness of the contribution that procurement and supply management can make to organisations.