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Procurement

Wood Group PSN has a single, global, integrated business system. We stringently
control procurement activities in each of our locations to provide customers with materials, equipment and services in a timely manner. Our way of doing procurement demonstrates of commitment to our core values of integrity and
financial responsibility; it builds good relationships with our suppliers while giving our customers peace of mind.

Comprehensive and current
Our procedures dictate clear financial thresholds and provide guidance on competitively bidding work. We have a large number of highly
competitive agreements in place with key suppliers, which decrease tender timelines and deliver commercial and quality advantages.

We develop relationships with these key suppliers through holding monthly meetings, measuring performance and KPIs, and ensuring we capture positive and negative lessons learned, which allow us to build and nurture these relationships.

We regularly conduct market research to ensure our agreements remain commercially competitive, and
monitor spends, ensuring we use our leverage during
negotiations.

Approved Supplier Register

Our unique supplier questionnaire and evaluation process makes sure that all suppliers and sub-contractors used by Wood Group PSN have achieved the specific level of HSEQ, legislative and commercial competency appropriate for the
nature of materials and services provided.

Suppliers that pass our evaluations then make it on to our Approved Supplier Register (ASR) and
thereafter they are regularly reviewed.

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