Procurement makes for big business in international development. Each year, funding agencies award tens of thousands of contracts amounting to billions of dollars: The United Nations in 2012 alone reported more than 15,000 transactions for goods and services valued at $15.4 billion.
It’s also a complex business. Even for industry veterans, navigating through the procurement process can be tricky especially as donors, faced with tighter budgets, constantly scrutinize their practices and introduce changes to how they acquire goods, works and services.
Thus, knowing in-depth not just the basics, but also the trends in procurement can spell success for those engaged in the business of development. Here are seven things you need to know about procurement in international development: