How does procurement in the public sector differ from that in the private sector?
Procurement is a pivotal function that spans Canada's public and private sectors. However, the approach, regulations, and objectives can significantly differ between these two realms. This blog will explore the critical distinctions in procurement practices between Canada's public and private sectors, shedding light on the factors that shape these differences. Regulatory Landscape: Public Sector Procurement In the public sector, procurement is heavily regulated to ensure transparency, fairness, and accountability in the expenditure of taxpayer funds. Government procurement in Canada is subject to a comprehensive framework of laws, policies, and guidelines. The core legislative framework includes the federal and provincial procurement acts, such as the Federal Procurement Strategy for Aboriginal Business and the Trade Agreements (CETA). These regulations promote competition and provide equitable access to suppliers, including certified procurement professionals . Procurement M...