ACWA Powers obtains Chartered Institute of Procurement & Supply (CIPS) accreditation for excellence in procurement and supply chain management
- First power and water company in the region to gain PEP Standard by CIPS - the world's largest professional body dedicated to the procurement and supply profession, with a global network of over 70,000 members
Riyadh, Saudi Arabia, 19 December 2021: ACWA Power, a leading developer, investor, and operator of power generation, green hydrogen, and desalinated water plants worldwide, obtains the world-class CIPS Procurement Excellence Programme (PEP) Award, following a rigorous evaluation process of the company’s procurement and supply chain management processes.
ACWA Power and NOMAC - ACWA Power’s wholly-owned subsidiary and operations & maintenance (O&M) arm – have undergone a 12-month assessment and evaluation period to ensure the companies’ procurement and supply practices are up to global excellence standards, particularly following the pandemic, which significantly impacted supply chains. The accreditation awarded to ACWA Power is a stamp of approval on supplier diversity, supplier relationship management, risk mitigation, and sustainable procurement.
ACWA Power is the first power and water company in the region to achieve the PEP Standard. PEP is a globally recognised award presented to organisations demonstrating excellence in their procurement and supply chain activities. The award drives regular improvements and value across supply chains and highlights procurement’s role as a fundamental component of an organisation’s strategy and growth.
As a fast-growing, global company that operates in 13 countries and works across borders, ACWA Power consistently needs to exhibit flexibility and agility in order to adapt to the constantly fluctuating global markets. This has been even more relevant in the past two years, as the pandemic hampered effective procurement processes following the varying restrictions imposed by countries.
ACWA Power partnered with the Chartered Institute of Procurement & Supply (CIPS) on the Procurement Excellence Programme to enhance and develop our procurement governance, to meet the needs of our dynamic organization while also aligning with the CIPS Global Standard. We are exceptionally proud to have acquired the CIPS accreditation as a testament of the teams’ relentless efforts to deliver best-in-class procurement.
The 12-month evaluation period was split into four phases:
- Phase 1: Diagnostics, which involved carrying out a targeted analysis of the procurement function through conducting semi-structured stakeholder interviews, combined with reviewing key documentations.
- Phase 2: Process improvement, involved creating and modifying current procurement policies, strategies, procedures, processes and supporting documentation to develop a complete and refreshed suite of functional documentation.
- Phase 3: Implementation & organisational development, focused on communicating, training and embedding all new policies and procedures. This also included the establishment of the Procurement Technical Skills Framework for all procurement roles, in collaboration with the human resources department.
- Phase 4: Final award submission, included CIPS reviewers and independent verifiers’ assessment to confirm that ACWA Power’s procurement meets the CIPS Standard Procurement Excellence – confirming that the procurement function demonstrates robust, effective governance for supply assurance and compliance.
At times over the last 18 months it felt like the world had stood still, so it’s good to see that some companies just powered through with their plans and achieved their goals. My congratulations go out to the procurement team and the whole organization for their dedication in achieving this award and I look forward to working with them again in the future
CIPS is the world’s largest professional body serving procurement and supply. They have the largest membership of procurement and supply professionals in the world, with a global presence in 150 countries, covering all industries, sectors and job activities. CIPS qualifications are recognised as the drivers of cutting-edge thinking and professionalism in procurement and supply.