What is social value?

Buying and procurement refers to the activities by which an organisation acquires goods, services or works from external suppliers, in the public-sector UK context it means how a public authority sources, contracts and manages third-party suppliers under procurement rules.

A contract award is the decision by a contracting authority in the UK to select a supplier (or suppliers) and proceed to conclude a contract after evaluating submitted offers. It is often preceded by a public notice and followed by a standstill period under the Procurement Act 2023.

A contract award notice is a formal public-sector publication in the UK that states a contracting authority’s intention to enter into a contract with a selected supplier, initiating any required standstill period under Procurement Act 2023 before the contract is concluded.

The procurement business process refers to the set of structured steps a public authority follows when buying goods, services or works, from identifying needs through sourcing, supplier selection, contract award and payment, in order to secure the best value for money in a compliant way.

The procurement cycle is the recurring lifecycle that a public procurement follows, typically planning the need, defining requirements, running the tender or selection process, awarding the contract, then managing and reviewing performance — so organisations continuously improve their procurement outcomes.

Procurement Law refers to the body of UK legislation (including statutes and regulations such as the Procurement Act 2023 and the Public Contracts Regulations 2015) and case law that governs how public bodies purchase goods, services and works, ensuring fairness, transparency and value for money.

Procurement lifecycle describes the end-to-end journey of a procurement from early planning and market engagement, through sourcing and award, to contract management and review, covering each phase so we optimise outcomes at every step.

Procurement stages are the sequential steps in a public procurement process, typically planning the need, defining requirements, selecting suppliers, awarding the contract and managing performance.

A procurement step is an individual action within the wider procurement process—such as publishing a tender notice, evaluating bids or awarding a contract, that helps move the procurement forward in a structured and compliant way.

A procurement team is the group of people in a supplier organisation responsible for winning business from public bodies and private companies. They identify opportunities, prepare bids, manage tenders, and build relationships to secure contracts while ensuring proposals meet customer and compliance requirements.

A tender notice is a public notification issued by a public sector buyer to alert the market about a new procurement opportunity, effectively inviting suppliers to bid.