Ethics in procurement best for success-NMB

02Dec 2021
By Guardian Reporter
The Guardian
Ethics in procurement best for success-NMB

​​​​​​​PROCUREMENT and supply management is a key aspect for operational success and business excellence, NMB Bank Plc. CEO Ruth Zaipuna has declared.

Ruth Zaipuna.

Addressing procurement and supplies professionals here on Tuesday, the NMB chief said ethical purchasing practices and innovative supply chain solutions are indispensable for the profession to deliver the requisite value for money.

Members of the Association of Procurement and Supplies Professionals (APSP) must shun malpractices and strive for accountability and transparency at their places of work, she urged.

“Legal and regulatory changes have uplifted the organizational status of the profession to new hierarchal heights, highlighting the need to maintain high ethical standards,” she remarked at an APSP inaugural annual general meeting at the Arusha International Conference Centre (AICC).

She said that the legal and regulatory changes provide a clear opportunity for procurement and supply management professionals to ascend the managerial ladder “provided that they work hard and deliver accordingly.”

The Chartered Institute of Procurement and Supply has it that as the profession’s status within organizations grow, ethical procurement and integrity in supply chain management practices equally become inevitable.

APSP leaders concurred with her because procurement of goods and services accounts for a big chunk of government budgets and spending of private sector entities. “I am confident that this forum will be used to address and strategize on how to improve the performance of the profession in both the public and private sector entities with the ultimate goal of enhancing integrity, honesty and efficiency at your places of work,” Zaipuna noted.

She called on the procurement and supplies managers to strike a fair balance between business success and what professional ethics and guidelines of the procurement law requires them to adhere to.

She applauded APSP members for embracing the bank’s Bancassurance group funeral package en masse, noting that there are other innovative solutions such as the “spend to save’ product and the popular NMB ‘ droplet’ health insurance scheme.

In a welcoming address, APSP chairman Emmanuel Urembo commended the lender for its market leadership, saying nothing illustrates better this quality than international awards the bank has frequently scooped for customer service excellence, among other aspects.

Urembo put the relevance and importance of the profession in development into proper perspective by asserting that the procurement of goods and services accounts for about 70 per cent of government expenditure and capital spending among private sector firms and other public entities.

“Therefore, the formation of APSP as a procurement and supply management professionals body in general makes a lot of business and economic development sense,” he told the gathering.

The AGM was also attended by the new director general of the Public Procurement Regulatory Authority, (PPRA) Dr Irene Isaka. She said her ‘open door’ leadership style means working closely with all professionals and other stakeholders.