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New financial year checklist for procurement leaders

Checklist

With the 2024-2025 financial year now underway, management consulting firm Grosvenor has shared a handy overview of key updates and important changes that procurement practitioners need to know about, to ensure success over the next 12 months:

  • The Australian federal government is changing the Commonwealth Procurement Rules (CPRs) with a focus on making it easier for SMEs to compete with major suppliers for a bigger slice of the government’s annual $70 billion spend. The CPRs also include the new Commonwealth Supplier Code of Conduct, which states that suppliers are expected to conduct themselves with high standards of ethics and consistently act with integrity and accountability. Did you see PASA’s recent CPR news story? Refresh your memory here with all the key facts
  • The Queensland State Government implemented the Ethical Supplier Mandate on 1st February 2024, which outlines how it manages instances where a supplier fails to uphold a policy, tender or contractual requirement. The Mandate applies to the procurement categories of general goods and services, information and communication technology, medical, social services and all future procurement categories under the Queensland Procurement Policy. Are you across your suppliers? Are they ethical, environmentally and socially responsible?
  • The mandatory Climate-Related Financial Disclosure regime will come into force on 1st January 2025, with a phased approach over the next four years. ASIC will be responsible for administering the mandatory climate reporting regime. Grosvenor suggests procurement leaders get started now on developing necessary organisational and governance structures to support future reporting requirements
  • The Australian Centre for Evaluation (ACE) is increasing its focus on evaluation practice and capability, which will mean more and higher quality evaluations to be required at all levels of government. Based on this, would your assumptions, evidence base and program outcomes hold up?
  • The Built Environment Plan, one of the six sectoral emissions reduction strategies supporting the Net Zero Plan, will provide a pathway for the built environment sector to transition to net zero. It aims to comprehensively address emissions reduction, including decreasing emissions from building operations (such as heating, cooling and lighting) and minimising embodied emissions from construction materials. The Built Environment Plan will gain increasing significance in the coming financial year as we edge closer to 2030

Remember to have your say in Grosvenor’s multiple-choice Annual State of Procurement study, which aims to understand if Australian procurement teams are implementing better practices while exploring their level of procurement maturity.

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