Governments take a page from industrial asset management

Public organizations around the globe are often criticized for lackluster spend management practices. As nationwide governments are responsible for overseeing expenses related to numerous different sectors, assiduously monitoring all assets can be an arduous task. To mitigate the issue, many are turning toward electronics and software solutions to give them a comprehensive, specified vision over all operations. 

Obtaining technology 

A number of government authorities have been known for their voracious appetites for the latest and greatest technologies, but many of them lack the connectivity required to make every device work together to form a compatible network. Surprisingly enough, industrial asset management could possibly resolve some of the issues these officials are facing. According to Supply Chain Brain, a disconnect between divisions, machines and other assets can greatly hinder functionality. 

"From setup and planning through contract management, the functions, systems and departments are highly disaggregated," said the news source. "Fixing these fragmented processes requires first and foremost, increasing visibility into the existing installed base."

For example, military authorities charged with making sure that all necessary materials are delivered to the appropriate locations could make great use of procurement software. Such technology can connect tanks, aircraft and other machines with each other so that product acquisition officers can obtain a holistic perspective on which equipment is in demand. However, in order for the system to work effectively, it may be necessary for some authorities to attain technology capable of connecting to the Internet. 

Taking a step in the right direction

Authorities are also recognizing the need to maintain a consistent view over municipalities and how they're interacting with constituents. Part of responsibly serving citizens consists of effectively managing the materials procurement process. If a public water utility doesn't possess the necessary equipment, how can it effectively accommodate denizens when their sinks run dry? 

According to Jamaica Information Service, the country's Ministry of Finance and Planning will implement an electronic product obtainment system - a $102.3 million investment. Officials hope that the initiative will strengthen the efficiency and quality of Jamaica's public sector procurement strategy. Through a single platform, state authorities and suppliers will be able to submit orders and complete contracts digitally. The project is jointly supported by the Government of Jamaica and the Inter-American Development Bank through grant funding. 

The willingness of the Caribbean government to improve its procurement management strategy is expected to enhance the livelihood of Jamaicans and give municipalities a better perspective of what they require in order to operate.