Analysis Of The Procurement Of Goods And Services In The City Of Medan Using The Value For Money Approach In 2024

Muhammad Arsyad Hawari Muchsin; Jason Nicholas Bonar Parulian Tampubolon; Galih Supraja

doi:10.55227/ijerfa.v4i4.457

Authors

Muhammad Arsyad Hawari Muchsin Department of Accounting, Panca Budi Development University
Jason Nicholas Bonar Parulian Tampubolon Department of Accounting, Panca Budi Development University
Galih Supraja Department of Accounting, Panca Budi Development University

DOI:

https://doi.org/10.55227/ijerfa.v4i4.457

Abstract

This study aims to analyze public procurement practices in the Medan City Government using the Value for Money (VfM) approach. Value for Money is a concept widely applied in the public sector to ensure that public resources are utilized economically, efficiently, and effectively. This study employs a qualitative approach through a literature review of academic journals, books, government regulations, and publications related to public procurement and public sector performance measurement. The findings indicate that the implementation of Value for Money in public procurement can improve budget efficiency, enhance service quality, strengthen accountability, and optimize public resource utilization. The study also highlights the importance of balancing cost, quality, and outcomes in procurement activities. Therefore, the Value for Money approach can serve as a strategic instrument for evaluating procurement performance and supporting good governance within the Medan City Government.

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