Financial Statements 2016 | Page 23

Theme Be a better buyer Objective: What has Accord committed to? Implementation: What has been delivered? Strategic decisions on insourcing and outsourcing – ensure that the most value is driven from investment decisions. n The Group continues to review “make versus buy” opportunities through its strategic approach to procurement with an appropriate balance of insourcing and outsourcing to manage procurement risk n Accord’s insourcing of construction programme management services has so far delivered five developments saving c£2.2m (9.7%) against forecast costs n Efficiencies totalling almost £600,000 have been identified during the year through new and renegotiated procurement opportunities n Further embedding and consistent application of the Group’s procurement processes through increased alignment of front line housing and asset management functions n Active contract management ensures value is achieved in outsourced service contracts. For example, ensuring suppliers’ apprenticeship and local supply chain commitments are being delivered as agreed. n The 2016 corporate realignment of the Group’s in-house maintenance services ensures increased procurement efficiency through more consistent routes to market and increased overall buying power. Value driven contract management – drive best value from contracts awarded over the entire life of the contract. Deliver a strategic procurement approach to buying to drive VFM through the further embedding of formal procurement processes. Financial Statements 2016 21