How can organizations ensure that they can get best value for money in their procurement decisions? How can they stimulate innovations from their dedicated suppliers? With contributions from leading academics and professionals, this 2006 handbook offers expert guidance on the fundamental aspects of successful procurement design and management in firms, public administrations, and international institutions. The issues addressed include the management of dynamic procurement; the handling of procurement risk; the architecture of purchasing systems; the structure of incentives in procurement contracts; methods to increase suppliers' participation in procurement contests and e-procurement platforms; how to minimize the risk of collusion and of corruption; pricing and reputation mechanisms in e-procurement platforms; and how procurement can enhance innovation. Inspired by frontier research, it provides practical recommendations to managers, engineers and lawyers engaged in private and public procurement design.

Review of the hardback:'Auction theory has a crucial role in designing practical procurement strategies. With its distinguished list of editors and contributors, and its focus on translating theoretical results into practical conclusions, this volume seems certain to become an essential reference for practitioners.'

Paul Klemperer - Edgeworth Professor of Economics, Oxford Universityand author of Auctions: Theory and Practice

Review of the hardback:'The Handbook of Procurement is just what the field of public procurement needs at the present moment in its history. It covers essential elements of public procurement including competitive tendering strategies and procurement transparency.'

Khi V. Thai - Florida Atlantic University, and Editor-in-Chief, Journal of Public Procurement

Review of the hardback:'A very useful textbook, combining theory, innovative research into international public procurement and practical advice into a single volume. There are useful sections for procurement professionals on the theory behind dynamic procurement systems - and auctions in particular.'

Hugh Barrett - Chief Executive of OGCbuying.solutions