What is value-based procurement and why should you care about it?

Value-based approaches in purchasing and supply management are increasingly viewed as a means to improve decisions and enhance the role of procurement. Yet, value-based procurement (VBP) remain largely unfamiliar to both researchers and practitioners. Given that value-based procurement has been implemented in the healthcare sector for more than a decade, this paper reviews the scattered academic and grey literature on the topic within that context. The aim is to document this innovative procurement practice and assess its relevance for other sectors. The scoping review resulted in 9 academic and 17 grey documents published in the last ten years. Together, these documents reveal key challenges, barriers, and recommendations for implementing value‑based procurement, as well as important managerial and research implications.