New institute to manage procurement
Procurement managers are now professionals‚ after the Chartered Insitute of Purchasing and Supply (CIPS) was launched on Thursday, 4 October 2012.
The institute is a professional body which will monitor procurement in SA.
MD Andre Coetzee said the body would help limit corruption by banning convicted procurement managers from certification.
"Finally we have professional structures around procurement‚" he said.
Chairman Douglas Boateng said African business was predominantly procurement-based and that CIPS would assist in regulating it.