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Tendering
An invitation to tender (ITT, also known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ). Unlike a request for proposal (RFP), which is used when a company sources for business proposals, ITTs are used when a government or company does not require the submission of an original business proposal and is looking solely to award a contract based on the best tender submitted. As a result, whereas ITTs are often decided based on the best price offered, decisions on RFPs may also involve other considerations such as technology and innovation. Both are forms of reverse auction. At the same time, variants may be requested in an ITT, whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
E-procurement
E-procurement (electronic procurement, sometimes also known as supplier exchange) is a collective term used to refer to a range of technologies which can be used to automate the internal and external processes associated with procurement, strategic sourcing and purchasing.National e-Procurement ProjectDesktop Guide to e-Procurement - Part 1: Overarching Guide to e-Procurement Local e-Government National Projects, accessed on 6 July 2024 Examples of e-procurement include e-auctions, e-tendering, automated issue of purchase orders and related receipting and invoicing processes, internet ordering, use of purchasing cards, and the use of information and networking systems such as electronic data interchange and enterprise resource planning systems. E-procurement can be used across the business-to-business, business-to-consumer and business-to-government marketplaces.Bids and TendersLakshwadeep E-Proc and NIC , title assumed to refer to Lakshadweep, accessed 6 July 2024 Sco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Procurement
Government procurement or public procurement is the purchase of goods, works (construction) or services by the state, such as by a government agency or a state-owned enterprise. In 2019, public procurement accounted for approximately 12% of GDP in OECD countries. In 2021 the World Bank Group estimated that public procurement made up about 15% of global GDP. Therefore, government procurement accounts for a substantial part of the global economy. Public procurement is based on the idea that governments should direct their society while giving the private sector the freedom to decide the best practices to produce the desired goods and services. One benefit of public procurement is its ability to cultivate innovation and economic growth. The public sector picks the most capable nonprofit or for-profit organizations available to issue the desired good or service to the taxpayers. This produces competition within the private sector to gain these contracts that then reward the organizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Bidding
Construction bidding is the process of submitting a proposal ( tender) to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs. The tender is treated as an offer to do the work for a certain amount of money (firm price), or a certain amount of profit ( cost reimbursement or cost plus). The tender, which is submitted by the competing firms, is generally based on a bill of quantities, a bill of approximate quantities or other specifications which enable the tenders to attain higher levels of accuracy, the statement of work. For instance, a bill of quantities is a list of all the materials (and other work such as amount of excavation) of a project which have sufficient detail to obtain a realistic cost, or rate per described item of work/material. The tenders should not only show the unit cost per material/work, but should also if possible, break it down to labour, plant and material costs. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Sourcing
Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price. It expands upon traditional organisational purchasing activities to embrace all activities within the procurement cycle, from specification to receipt, payment for goods and services to sourcing production lines where the labor market would increase firms' ROI. Strategic sourcing processes aim for continuous improvement and re-evaluation of the purchasing activities of an organisation. In the services industry, strategic sourcing refers to a service solution, sometimes called a strategic partnership, which is specifically customized to meet the client's individual needs. In a production environment, it is often considered one component of supply chain management. Modern supply chain management professionals have placed emphasis on defining the distinct differences between strategic sourcing and procurement. Procurement operations support tactical day- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Best Value
Best Value was government policy in the United Kingdom affecting the provision of public services in England. In Wales, Best Value is known as the Wales Programme for Improvement. A statutory duty of Best Value also applies in Scotland.Audit ScotlandBest Value accessed 29 December 2021 Background The predecessor to the UK Labour Government's Best Value policy was the Conservative Government's 1980s policy of compulsory competitive tendering (CCT). CCT originated in part with the ideas of Conservative politician Nicholas Ridley, who made "unfavorable" comparisons between the "fat and bloated" local authorities of the United Kingdom and the relatively "slim" contract cities of the United States. CCT required public-sector organisations to enable private companies to bid for contracts to deliver certain public services in competition with the public sector's own organisations. The idea was to improve services through competition. The Local Government, Planning and Land Act 1980 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronics Corporation Of India Limited
Electronics Corporation of India Limited (ECIL; ) is a Miniratna Category-I public sector enterprise under the Department of Atomic Energy, established on 11 April 1967 by A. S. Rao at Hyderabad, under the Prime Ministership of Smt Indira Gandhi, to create a strong indigenous base in electronics. ECIL is a multi-product, multi-disciplinary organisation with focus on indigenous nuclear energy, space and defence sectors. ECIL also has a strong presence in indigenous electronic security, communications, networking and e-governance domains. ECIL has committed partnerships with nuclear energy establishments of India, particularly Bhabha Atomic Research Center (BARC), Nuclear Power Corporation of India Limited (NPCIL) and Indira Gandhi Centre for Atomic Research (IGCAR). ECIL also actively supports other strategic sectors such as indigenous defence ( PSUs, Defence Research and Development Organisation; DRDO), space ( Department of Space), civil aviation, information and broadc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sources Sought
A sources sought (often capitalized as Sources Sought) notice is used by agencies of the government of the United States to solicit interest in a project under consideration by that agency. They are not requests for proposals or invitations to bid; sources sought come earlier in the procurement process.Bierlein, J. F. (2017)Responding to Sources Sought Notice or RFIs Coley Government Contract Services Such notices are useful to the agency as market research, by determining the availability of contractors to perform the project. They are useful to the contractors as their responses may influence the terms by which the agency defines the requirements of the project.Schadl, Chuck (2017)Sources Sought Notices—An Opportunity Association of Procurement Technical Assistance Centers. The notices are published online by the General Services Administration of the federal government. In the United Kingdom, the Department for International Trade The Department for International Trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Request For Quotation
A request for quotation (RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RfQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). An RfQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process. To receive correct quotes, RfQs often include the specifications of the items/services to make sure all the suppliers are bidding on the same item/service. Logically, the more detailed the specifications A specification often refers to a set of documented requirements to be satisfied by a material, design, product, or service. A specification is often a type of technical standard. There are different types of technical or engineering specificati ..., the more accurate the quote will be and comparable to the other suppliers. Another reason for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Request For Qualifications
Request may refer to: * a question, a request for information * a petition, a formal document demanding something that is submitted to an authority. Request may also refer to: Computing and technology * in computer science, a message sent between objects * in computer science, a request in Hypertext Transfer Protocol * Request TV, a defunct pay-per-view service * Requests (software), a Python HTTP library Albums * ''Request'' (The Awakening album), a 1997 album by South African band The Awakening * ''Request'' (Juju album), a 2010 cover album by Japanese singer Juju * ''Requests'', an album by The Johnson Mountain Boys * ''Requests'', a classical album by Victor Borge * ''Requests'', a 1964 Parlophone EP by The Beatles; "Long Tall Sally" "I Call Your Name" "Can't Buy Me Love" "You Can't Do That" * ''Requests'', a 1965 EP by Pat Carroll * ''Further Requests'', the second 1964 Parlophone EP by The Beatles The Beatles were an English Rock music, rock band forme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Request For Information
A request for information (RFI) is a common business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next. RFIs are therefore rarely the final stage and are instead often used in combination with request for proposal (RFP), request for tender (RFT), and request for quotation (RFQ). In addition to gathering basic information, an RFI is often used as a solicitation sent to a broad base of potential suppliers for the purpose of conditioning suppliers' minds, developing strategy, building a database, and preparing for an RFP, RFT, or RFQ. An RFI may be ''open'', where information is publicly gathered from anyone interested who wants to provide a submission, or ''closed'', where parties are privately approached to provide information. The ubiquitous availability of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chartered Institute Of Procurement & Supply
The Chartered Institute of Procurement & Supply (CIPS), formerly the Chartered Institute of Purchasing & Supply, is a global professional body working for the procurement and supply profession in many regions of the world. It promotes best practice and provides services for non-professionals and its over 64,000 members in 180 countries. It received its Royal Charter from Queen Elizabeth II in 1992, and offered its members Chartered Status in 2014; members are eligible for Chartered Status after completing a programme of continuing professional development including the successful completion of the CIPS ethics test. CIPS promotes and develops high standards of professional skill, ability, and integrity among all those engaged in procurement and supply chain management. Its headquarters are located in Easton on the Hill, just inside Northamptonshire, near Stamford, Lincolnshire but it has offices around the world and partnerships in other countries where it has a presence. CIPS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negotiation
Negotiation is a dialogue between two or more parties to resolve points of difference, gain an advantage for an individual or Collective bargaining, collective, or craft outcomes to satisfy various interests. The parties aspire to agree on matters of The Impact of Religion on International Negotiations, mutual interest. The agreement can be beneficial for all or some of the parties involved. The negotiators should establish their own needs and wants while also seeking to understand the wants and needs of others involved to increase their chances of closing deals, avoiding conflicts, forming relationships with other parties, or maximizing mutual gains. Distributive negotiations, or compromises, are conducted by putting forward a position and making concessions to achieve an agreement. The degree to which the negotiating parties Trust (social science), trust each other to implement the negotiated solution is a major factor in determining the success of a negotiation. People neg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
