We spend two thirds of our revenues in procuring goods and services from suppliers. Together, we can offer the best service to our customers at every stage of a project's delivery.
We manage some of the largest and most complex projects in the world and our supply chain is an invaluable resource to our customers. Successful relationship management with our supply chain is fundamental to the delivery of all our projects.
Being a great customer
At Balfour Beatty, it is our objective to become the customer of choice to the best suppliers. We are achieving this by increasingly concentrating our business with the best performing suppliers and supporting continuous improvement in areas important to Balfour Beatty and our stakeholders.
Our philosophy for working with suppliers is:
- Safety and sustainability are of paramount importance
- By sharing information in a constructive and open manner, we aim to motivate suppliers to improve performance
- We will recognise and reward high performance
- We think innovation, learning and teamwork should be positively encouraged
- There should be continuous measurable improvement in the service provided
- The partnership should seek to create an environment of trust, integrity and open communication
- Both parties should always strive to exceed customer expectation.
Paying our suppliers
We’re committed to paying our suppliers on time to mutually agreed terms.
Since 2015, we have visibly streamlined and improved the systems and tools used in the planning, delivery, progress tracking and payment of supply chain partners with the introduction of Tradex. It provides an e-invoicing platform and supplier invoice status portal and Constructionline.
We continue to invest in our processes and a number of systems to continue to improve our payment days and enhance our accuracy and transparency including; the implementation of catalogue software for a number of key suppliers and moving suppliers onto payment terms of 60 days or less.
We still believe we remained aligned to the principles of the UK Government Prompt Payment Code to which we were an early signatory. Working with the Administrators of the Code, we’ve developed an action plan that has been accepted and we are implementing the plan that will help us to comply with the Code principles. You can view our action plan here.
For more information on our processes for paying suppliers, please visit our Supplier Payment page.
Being a great supplier
A great supply chain can be a source of competitive advantage. We want to raise the bar and help our suppliers to consistently deliver excellence.
Being a great supplier means:
- Providing a safe and competent workforce
- Incorporating safety and sustainability into solutions and methods of working
- Delivering to agreed specification, time and cost
- Reducing cost and eliminating waste through continuous improvement
- Always displaying the right behaviours
- Collaborating to deliver innovative solutions.