Steps of a Strategic Government Procurement
Procurement is the process of obtaining goods and services from an external source. Business owners are supposed to know the process of procurement in case they want their business to prosper. For a business operation to prosper, they must know certain procurement process. The process is never easy since it needs input and support from all the departments in a business. It needs constant analysis and monitoring by the person requesting for the quotation. There are many types of procurement process and how to bid on government contracts that a company or business can adopt.
You should first review the requirements before looking for the government contract jobs. It is essential to conduct an analysis of the current performance of your business before adopting the right procurement process to adopt. The items being benchmarked can be brand new items or sometimes old goods which need to be ordered again. If the company needs specific requirement from the goods they are ordering then they need to be up to date on those orders and requirements to avoid future regrets.
Vendor selection is one of the most significant steps in the procurement cycle. It is important to not only find vendors who can deliver quality goods but also with a good reputation. Companies should look at the government contract website and select a vendor who can cater for all their needs. You can also develop a list of vendors that offer the goods your business needs. A vendor must be selected very carefully because their inability to meet the needs can sometimes lead to serious losses for the business.
You must get consent from the highest authority before you request for quotation. The purchase order will specify the goods and services being ordered as well as their prices. The purchase order is where the acquisition of goods takes place after the requisition has been approved. They are also very useful especially when you want to track payments and manage your business inventory. It will confirm the sales and the date when payment is due.
Payment should be made in form of cash and at the time frame that both parties agreed on. All the records of the procurement process should be stored well to assist with the audit process. If a procurement process is done in the correct and required order, then you can be assured of the best results. You will also minimize delays and get the products you want at a more favorable rate. It is essential to carry out a thorough tender evaluation in a more structured and disciplined manner. Once the supplier has been selected, he/she should be given the tender to supply the goods needed.