Despite collaborative procurement spend through our competitive supply agreements being down from £251m in 2018-19 to £234m this year, the level of savings being achieved by our members has increased from £16.7m to £19m. Our return on investment (the ratio of savings to membership subscriptions) has also increased from 53:1 last year to 65:1, demonstrating continued value for money.

This report highlights category and responsible procurement activity, provides an overview of our 2019-20 financial position and a progress update on our corporate strategy, Adding Value through Responsible Procurement. I offer my thanks to the many members who have supported our projects by serving on our commodity groups, tender working parties, the Board or the Executive Committee; and for promoting LUPC across their institutions. In 2021, we will continue to strive to enhance value to our members through our agreements, events and networking opportunities.