What do ethics in procurement aim to promote?

Ethics in procurement aim to promote fairness and integrity in purchasing processes. This principle ensures that all participants have equal opportunities and that decisions are made based on merit rather than favoritism or unethical practices. By prioritizing fairness, procurement activities foster trust among suppliers, stakeholders, and the public, which is essential for maintaining a positive reputation and effective business relationships.

Upholding integrity involves acting consistently with moral and ethical principles, which is vital for decision-making in procurement. A transparent process, which aligns with ethics, helps to prevent corruption and misconduct by clearly outlining how bids are evaluated and contracts awarded. This adherence to ethical standards can ultimately lead to better value for public spending and enhances overall efficiency in procurement processes.