We spend two thirds of our revenues in procuring goods and services from our supply chain partners.
We deliver some of the largest and most complex construction and infrastructure projects, along with projects at the heart of the local communities across the UK, US and Hong Kong. Our supply chain is an invaluable resource to our customers. Successful relationship management with our supply chain partners 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 supply chain partners and supporting continuous improvement in areas important to Balfour Beatty and our stakeholders.
Our philosophy for working with our supply chain partner is:
- Safety and sustainability are of paramount importance
- By sharing information in a constructive and open manner, we aim to motivate supply chain partners 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 supply chain partners
As signatories to the UK Government’s Prompt Payment Code, we comply with the principles of the Code and are committed to paying our supply chain partners 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, 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 supply chain partners, moving the supply chain partners onto payment terms of 60 days or less and, from 1 July 2021, paying organisations with less than 50 employees in 30 days or less.
For more information on our processes for paying supply chain partners, please visit our Supply chain partner payment page.
Being a great supply chain partner
A great supply chain can be a source of competitive advantage. We want to raise the bar and help our supply chain partners to consistently deliver excellence.
Being a great supply chain partner 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.