Procurement Policy

Ricardo is committed to achieving best value for money in all its purchases of goods and services and complying with all relevant legislation and policies. We recognise our responsibilities and carry out our procurement activities in a safe, environmentally responsible and sustainable manner. Ricardo acknowledges that its procurement decisions carry environment social and economic implications and recognises its responsibility to procure goods and services in a responsible manner. Our procurement of goods and services can be used as a powerful instrument to achieve sustainable environmental, social and economic development of the future world we want to create. Ricardo will meet its needs for goods, services, works and utilities in a way that achieves value for money on a whole life basis in terms of generating benefits not only to Ricardo, but also to society and the economy, whilst minimising damage to the environment.
The responsibility for compliance sits with the Chief Finance Officer supported by the Global Head of Procurement and is delivered via Divisional Managing Directors and their teams.
Our principal procurement commitments are to:

  • Achieve best value for money in all areas of spend for goods and services.
  • Identify, minimise and manage risks that may arise in the supply chain.
  • Comply with all relevant legislation in the countries where we work.
  • Actively assess and monitor risks from modern slavery and child labour. 
  • Promote sustainable procurement and minimise our environmental impact.
  • Engage external providers, external suppliers and contractors (suppliers) of products and services that operate to similar principles as those promoted by Ricardo.
  • Select and maintain buildings that minimise the environmental impact of where we work.
  • Encourage and assist Clients to work with us to reduce the environmental impact of the products and services that we supply to them.  
  • Ensure employees and those working for or on behalf of Ricardo shall conduct themselves in accordance with Ricardo Values and will always act ethically. Buyers and key decision makers shall not accept gifts, hospitality or any other inducements above the limits specified within the Ricardo Ethics policy.
  • To be open to feedback from stakeholders via emails to [email protected].

Dave Shemmans signature
Dave Shemmans (Chief Executive Officer)
4 September 2020

Terms and conditions of purchase

Suppliers to Ricardo