Learn more about our process of acquiring goods, works and services.
Procurement is the process of acquiring goods, works and services, covering both acquisitions from third parties and from in house providers. It is a much broader term than ‘purchasing’.
The process spans the whole cycle from identification of needs through to the end of a service contract or the end of the useful life of an asset. It involves options appraisal and the critical 'make or buy' decision that may result in the provision of services in-house.
All procurement of goods, works and services is based on value for money, having due regard to propriety, regularity and our legal obligations.
A product or service is deemed as to provide value for money when all of the following statements are true:
- The company / legal entity providing the product / service share the same high standards of ethics as the StayGB Group.
- The company / legal entity providing the product / service has been assessed to determine whether it is highly probable that it can fulfill its contractual obligations to us for the whole duration of the provision of the service or the service lifetime of the product sold.
- The product / service fulfills our purchasing goals (it solves / continues to solve the problems / issues for which it was purchased).
- The monetary cost of the product or service is / continues to be satisfactory (of similar or cheaper price) than a comparative product / service purchased from another vendor.
At StayGB we would always prefer to obtain our products and services from fellow British companies. Whilst you will note that this preference is not a fixed requirement in our assessment of value for money, it often provides positive weight in point 2 above.
Author: StayGB Ltd