Wood's Procurement Policy is to purchase equipment, materials and services on a world-wide basis that affords the most economical cost, taking into consideration quality, price, delivery, reliability, local availability and support services, using financially sound, reputable suppliers and contractors capable of satisfying the specific projects and clients requirements.

Wood has developed its own eProcurement web site to provide our global procurement organizations with a common portal to carry out their procurement activities in order to effectively reduce cost, optimize cycle times, leverage corporate purchasing power, establish centralized reporting capabilities, and continue to be on the forefront of the latest technology. This is a secure, password protected website where user access rights are maintained according to level of responsibility. Current key functionality allows Wood to:

• Issue secrecy agreements to suppliers
• Issue quotation requests to suppliers
• Manage quotations
• Receive bids
• Issue purchase and change orders to suppliers
• Distribute documents electronically
• Access Master Purchase Agreement information.
• Share supplier knowledge with all Wood procurement offices
• Access a supplier database of 20,000 + active records
• Gather data on new supplier capabilities through on-line registration