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Tips On Running A Successful Tender Process

The primary function of a procurement office is to obtain the required items at the right time, in the correct quantities and at the most favourable prices.

As a process and a concept, tendering is basically a simple undertaking in which everyone involved understands where tenders come from, what information must be made available, and when and how each stage of the process is dependent on the other.

The procurement department will: –

  • Compile a list of requirements
  • Identifies potential suppliers
  • Selects the most cost-effective supplier for the organisation
  • Make sure that the suppliers comply with contract terms
  • And many more…

Much to the dismay of procurement personnel, tender process takes up a considerable amount of time and expense. However, despite that, it offers an open and transparent process to ensure that the best supplier can be secured for the organisation. Tender process should be approached methodically, so that it can save time and prevent missing information flowing to the personnel involved.

Here are some tips that the procurement department can use in order to ensure an effective procurement process: –

  • Involve the stakeholders

Internal stakeholders in this context, refers to the people in the organisation involved in the procurement process. Relevant personnel should agree on a realistic set of requirements and timescales, with sufficient time set aside to negotiate the details of the contract so that everyone can be clear, saving time by preventing parties from missing vital information during communication.

  • Defining your needs

Having a thorough specification of your product characteristics puts the procurement team in a better position to negotiate. Quality standards must be clearly defined to ensure that there is no ambiguity in terms of the specification. This way, you can choose the right supplier that suits your product needs.

  • Specifying roles and responsibilities

It is important that the roles and responsibilities of each personnel in the procurement team are clearly established. For instance, who is best to gather quality or financial information, who is best to do final formatting etc.

  • Detailed timeline

The procurement team should also come up with a detailed timeline of activities with clear deadlines to ensure that the whole tendering process will be smooth. Regular reviews have to be conducted as well to solve and improve inefficiencies.

Bid Management and Tender Evaluation is a 2-day course that is designed to equipped participants with the necessary understanding, skills, tools and templates to effectively implement world-class tendered procurement strategies. The course also provides the basis for being a ‘good customer’ by following a structure to the tendering process that engages with supplier. For more information, please visit us at http://www.opuskinetic.com/training or contact us at info@opuskinetic.com.

Opus Kinetic believes that people are why organisations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house training, leadership training courses, oil and gas training courses, courses that target health safety and environment, etc. Our training courses are well researched and updated with the latest industry trends. For more information on our professional training programs, you can visit us at http://www.opuskinetic.com/training.

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