+1 (345) 244-3683
cpo@gov.ky

Savings Initiatives

The Central Procurement Office (CPO) was created in 2015 with a mandate is to identify areas of government with savings potential and to pursue cost saving opportunities where appropriate..

Following extensive research and an in-depth spend analysis covering all of core government, the Director of CPO recommended the use of electronic reverse auctions (eRAs) as a key methodology to achieve strategic cost-savings.

A pilot project was set up in 2016 and reverse auctions have been run in the following areas:

  • Network & Firewall Infrastructure Upgrade
  • ICT Equipment for Government Schools
  • Office Supplies, Paper & Toner
  • Pharmaceuticals
  • Medical & Surgical Supplies

Total savings to date: approx. $4,000,000 KYD

The Process

A Two-Step Approach

The Cayman Islands Government and its consultant successfully implemented a 2-step procurement process utilizing reverse auction.

  • Our reverse auction methodology secures responses in Step 1 and pricing in Step 2 as outlined below which allows only qualified bidders to participate in the reverse auction:

A Two-Step Approach

 

Solution Implementation

Reverse Auction Lifecycle