This question is put to all purchasing people in all sectors on a regular basis. We return to that. Nothing could be further from the truth, in my experience academics have a very sharply defined sense of value for money. Its not a question of trust, its a question of aggregation. All academics, technicians and other staff undoubtedly do seek value for money, but if they do it on a fragmented, departmental basis they are not taking advantage of the leverage of the whole University.
Suppliers adore fragmentation.
Let me give an example. The photocopying contract is an outstanding example of value for money. It's because the arrangement is national. The suppliers, because of the volumes of photocopies required in the HE sector, are able to offer terms that they would simply not offer if the contract did not deliver such volumes. Departments undoubtedly would seek value for money.