Red Flag Conference on Procurement Governance 2014

This 2-day conference is expected to bring forth greater awareness and excellence in procurement governance through sharing of best of repository knowledge, current thinking and future scenarios.

Strategic alignment of procurement function with entity core objectives is the main theme of the conference. The main theme is divided into four sub-themes. It targets all small and medium enterprises, large multi-national companies, and government departments, framework agreements with international organizations or contractors under Public Private Partnership.

Procurement functions have ramifications that go into realm of financing of terrorism or money laundering of proceeds of crime or have concerns related to kickbacks and bribery. A minor infraction in international contract, for example, may lend any entity black listed for years with disastrous consequences.

Entities that have fine-tuned their procurement function with the power of technology and new business paradigms such as reverse auctioning have significantly reduced their procurement costs.

Opportunity to interact on the art of using novel ideas adopted by the global business community is one of the spin-offs of this conference.