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"Unlock Efficient Procurement: Understanding Tendering" New to tender management? Learn the essentials: Tendering definition and types Procurement tendering process Benefits (cost savings, transparency) Best practices (evaluation criteria, compliance) Discover more: https://lnkd.in/gfRptAea #TenderingInProcurement #Procurement #SupplyChain

Various stages of the procurement cycle

Procurement in public sector: Refers to the process by which government and public sector entities acquire goods, services, or works from external suppliers. It involves a structured approach to sourcing, tendering, and managing contracts to meet the needs of government agencies, public institutions, and citizens. Public sector procurement is often governed by specific regulations and guidelines to ensure transparency, fairness, and accountability in the expenditure of public funds. It plays a critical role in delivering public services, infrastructure projects, and fulfilling governmental obligations while adhering to principles of cost-efficiency, fairness, and ethical practices. Public sector procurement typically involves the following steps: 1.      Needs Identification: Government agencies identify the goods, services, or works required to fulfill their operational or project needs. 2.     Requirement Specification: Detailed specifications and requirements for the procurement are defined, outlining the technical and functional aspects of the desired goods or services. 3.    Budgeting and Planning: Establishing a budget for the procurement, aligning with financial regulations and available funds. Planning includes determining the procurement method and timeline. 4.    Solicitation: Publicizing the procurement opportunity through a tender, request for proposal (RFP), request for quotation (RFQ), or other solicitation methods to attract potential suppliers. 5.    Supplier Evaluation and Selection: Evaluating supplier proposals or bids based on predefined criteria, which may include technical capabilities, price, past performance, and compliance with regulations. 6.    Contract Award: Selecting the supplier and awarding the contract based on the evaluation results, often following a formal approval process. 7.    Contract Management: Administering the contract, including monitoring supplier performance, ensuring compliance, and managing any changes or disputes that may arise. 8.    Compliance and Reporting: Ensuring compliance with procurement regulations, maintaining records, and providing transparency through reporting on procurement activities. #Procurement_Hub

Are pipeline notices a game-changer for public procurement? The Procurement Act 2023 introduces Pipeline Notices, aiming to revolutionise how suppliers engage with public sector opportunities. Key points you need to know: • Above-threshold authorities (£100M+ annual spend) must publish annually • Covers planned procurements valued at £2M+ for the next 18 months • First notices due by May 26th, 2025 There’s an issue: while designed to boost early market engagement, some experts worry these notices might create confusion with premature, low-quality information. Will Pipeline Notices truly level the playing field, or add another layer of complexity to an already intricate process? Here are my thoughts on potential impacts: • This is broadly a good thing, helping and encouraging forward planning for both buyers and suppliers • Contracting authorities are already suffering resource strains so we’re adding ever more admin work. I expect lots of opportunities will simply not be captured properly and will come out under the ‘we didn’t have enough time waiver’ • Coupling this with the extra approvals put in place by the new Government we risk creating so many steps in the process that no one manages to get things done! We really need an overall streamlining of procurement processes. 💬What's your take?

"Understanding Tenders: Streamline Your Procurement Process" New to tender management? Learn the basics: Definition and types of tenders Tendering process and stages Key benefits and best practices Read now: https://lnkd.in/gK9g78nQ #TenderManagement #Procurement #SupplyChain

"Unlock Transparent Procurement with Open Tendering" Struggling with biased or inefficient tender processes? Discover the benefits of Open Tendering: Ensures fair competition Increases transparency Reduces corruption Encourages innovation Optimize your procurement strategy now: https://lnkd.in/gqpBeSG5 #OpenTendering #Procurement #SupplyChain #Transparency

What is Procurement Planning? Procurement planning is the process of identifying and consolidating requirements and determining the timeframes for their procurement with the aim of having them as and when they are required. A good procurement plan will describe the process in the identification and selection of suppliers/contractors/consultants.

Impact of Procurement Method on the Procurement Timeline

The Procurement Management Life Cycle consists of 5 key stages: 1. Bidding – The process of inviting suppliers to submit offers for goods or services. 2. Tendering – Suppliers submit formal proposals or tenders for consideration. 3. Contracting – A formal agreement is made between the buyer and supplier, outlining terms. 4. Administering Procurement – Managing and overseeing the contract, ensuring compliance and performance. 5. Closing Procurement – Finalizing the contract, completing all requirements, and closing out the procurement process. _______________________________________________________________ Procurement Management includes the processes necessary to procure works, services and goods needed from outside the company.

Procurement in a Nutshell: Procurement Act 2023 Guidance – Assessment Summaries. In this Nutshell, Tim Care analyses the recently published guidance on 'Assessment Summaries', evaluating the recommend form and content of such feedback and when this must be given to suppliers. Read it here: https://lnkd.in/eERKdjzb #PublicSector #Procurement