Board Procurement Committee
The Board Procurement Committee oversees all procurement processes, vendor management activities, and cost optimization initiatives across FCJ operations.
Committee Overview
This committee ensures transparent, competitive, and cost-effective acquisition of goods and services while maintaining the highest standards of integrity and regulatory compliance in all procurement activities.
Key Responsibilities
Procurement Strategy
- Strategic sourcing planning
- Procurement policy development
- Supplier diversity initiatives
- Market analysis and research
- Cost reduction strategies
Vendor Management
- Vendor selection and evaluation
- Contract negotiation oversight
- Performance monitoring
- Relationship management
- Dispute resolution
Compliance & Governance
- Regulatory compliance monitoring
- Procurement audit oversight
- Ethics and integrity standards
- Risk assessment and mitigation
- Documentation and reporting
Committee Structure & Governance
Committee Composition
- Committee Chairman
- Procurement Director
- Board Members
- Legal Advisor
Meeting Schedule
- Monthly Reviews
- Tender Evaluations
- Vendor Assessments
- Compliance Audits
2025 Strategic Focus Areas
Cost Optimization
Reducing procurement costs
Vendor Quality
Ensuring supplier excellence
Process Efficiency
Streamlining procurement
Risk Management
Mitigating supply risks