Agenda item

City Procurement Quarterly Results

Report of the Chamberlain.

Minutes:

The Committee considered a Report of the Chamberlain concerning the quarterly report for City Procurement and the annual performance figures for the 2017/18 financial year.

 

A Member raised a query regarding the methodology used to determine what the target price is per contract, The Chamberlain responded that there is a range of ways of determining this. Post meeting he would provide the Member with an extract from the Corporate Procurement Efficiency and Savings Process Manual, on setting the ‘baseline’ cost against which the actual new price will be calculated against. 

 

RESOLVED – that Members noted the following:

 

·         Procurement savings achieved £6.98m, against a target of £6.47m.

 

·         New service of Commercial Contract Management, achieved savings £311k against a target of £550k. The shortfall will be added to this year’s target to be presented at June 18 Finance Committee.

 

·         Purchase Order Compliance was 97%.

 

·         Supplier Payments

 

o   95% of all supplier payments happening within 30 days (Target 97%).

o   76% of SME payments happening within 10 days (Target 88%).

 

·         93% of invoices are currently received electronically.

 

·         The City Procurement service costs £3.08m, with a breakdown found at paragraph 13 in the main report.

 

 

Supporting documents: