The Impact of Public Procurement Law on Supply Chain Performance
DOI:
https://doi.org/10.53819/81018102t2331Abstract
This article explores the multifaceted and far-reaching impact of public procurement law on supply chain performance across various industries and sectors. Public procurement law plays a vital role in governing the acquisition of goods, services, and works by government entities, aiming to promote fair competition, transparency, and accountability in the procurement process. By adhering to these legal frameworks, government agencies can streamline their procurement procedures, resulting in improved supply chain efficiency. Transparency is a fundamental aspect of public procurement law, fostering a competitive environment by ensuring open bid evaluation and fair contract awarding processes. Ethical and lawful procurement practices encouraged by the law help mitigate corruption and unethical business practices, enhancing the integrity of the supply chain. This article emphasizes the importance of lawful procurement practices and their role in building trust and confidence among suppliers, investors, and the public. When suppliers perceive a fair selection process, they are more inclined to invest in long-term relationships, leading to increased innovation, reliability, and timely delivery of goods and services. Furthermore, the article calls for action to enhance supply chain performance through compliance. Policymakers should continuously review and update procurement regulations to keep pace with changing market dynamics. Embracing technology and capacity building for procurement teams can streamline processes and promote transparency. Suppliers should invest in developing internal governance systems and policies to comply with regulations and compete effectively. Ultimately, upholding lawful procurement practices is a collective responsibility that leads to a transparent, efficient, and resilient supply chain ecosystem benefiting all stakeholders. Compliance and ethical conduct not only improve supply chain performance but also enhance public trust in government operations, driving economic growth and societal development.
Keywords: Public Procurement Law, Supply Chain Performance
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