Ukrainian Railways is due to receive CIPS corporate certification in the first half of 2020. This is important because of the company’s plans for an IPO, the director of the procurement process transformation office of Ukrainian Railways JSC Vladyslav Kyvgylo said.
The press service of the company notes that the company set this goal following a meeting with a delegation of the British Chartered Institute for Supply and Supply Management (CIPS).
«When an investor evaluates the «attractiveness» of shares, the openness, regulation and transparency of decision-making within the company, in particular, its purchasing unit, are crucial. Based on the information that we and our colleagues from CIPS developed during the meeting, we set ourselves the ambitious goal of getting the appropriate certification in the first half of 2020,» said Vladyslav Kyvgylo.
He also added that the office for the transformation of procurement processes was appointed as the person responsible for the certification process at Ukrainian Railways, which should create a plan to implement the requirements/initiatives of CIPS and ensure control over its implementation.
According to Vladyslav Kyvgylo, in the process of obtaining a CIPS certificate, the Ukrainian Railways procurement process transformation office is already conducting a critical analysis of the structure of existing procurement processes, vertical information transparency, management practices and other aspects of procurement activities. «The results of this analysis will serve as the basis for the creation of new procurement policies and procedures, as required by CIPS, which will also contribute to the success of the IPO of JSC Ukrainian Railways,» said Vladyslav Kyvgylo.