The University’s annual non pay spend, not including capital projects, is circa £50m. The University has a statutory responsibility to ensure that it achieves Value for Money in its use of public funds. However, we also have a responsibility to our stakeholders (students, staff, external customers and partners) to ensure that we use resources in the best way possible to achieve our objectives.
Value for Money is not just about buying the cheapest; it is the balance between the lifetime cost of the purchase and the quality/performance of that product or service. Value for money is central to the University’s Procurement Strategy which can be found here.