Thursday 17 July 2014

Top Tendering Tips for Buyers

Authored by Azra Sultan

The primary objective of an efficient procurement policy is to obtain goods and services at the lowest possible price and to achieve the best value for the money spent ultimately. Buyers need to sure that they are providing the right information to vendors helping them to meet this objective. Here are a few top tips for tendering:
  • Plan your procurement as thoroughly as possible and make tender documents clear and concise. This will help obtain better supplier responses and the need for a clarification is also eliminated.
  • Rather than using standard templates, the tender should be tailored to specific project requirements. This will pay off later, as it will help bidders to come up with relevant solutions only.
  • Include key terms and conditions and awarding strategy to help the vendors determine their ranking according to criteria. This will surely help them to offer best possible technical and commercial proposals.
If the design of the tender document encourages bidders to participate, then the chances of bid rigging can also be reduced, hence, make it simple, helping vendors to respond promptly.