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Universities 'must improve procurement to achieve savings'
The importance of effective procurement policies among universities in the UK has been highlighted by a report issued this month.
Industry body Universities UK has published analysis of how the British higher education sector can safeguard its future via more effective use of funds and the eradication of duplication and fragmentation.
Procurement was highlighted as a key area of concern, as universities are currently failing to utilise their size and purchasing power to generate necessary savings, particularly in England.
More strategic coordination and challenging new targets for procurement professionals in the sector have therefore been recommended, as well as the exploration of shared services and outsourcing models.
Professor Eric Thomas, president of Universities UK, said: "Universities have already made significant progress in terms of efficiency, but with a new funding environment and enhanced student expectations, it's more important than ever that we demonstrate good value for money."
This month also saw the publication of a new report from data management solutions provider DataFlux, which suggested that management of vital internal information could be impeding the effectiveness of procurement strategies among UK organisations.
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