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Health Check: Sourcing & Tendering

How do you become more efficient and effective at sourcing?
Health Check: Sourcing & Tendering
Executives often wonder how well their organisation is performing in key areas, but can't always afford the time or expense of a full-scale analysis or benchmarking exercise. Even when a substantial initiative is being contemplated, an initial "rough cut" assessment is often the right starting point before investing significant resources.

This guide looks at the process of Sourcing and Tendering, as follows:

The process of soliciting, evaluating, and selecting suppliers using any form of competitive bidding process:
  • Methods used may include supplier questionnaires (e.g. RFI), formal bids (e.g. RFQ or RFP), regulated public posting (e.g. OJEU), reverse auctions, etc.
  • The process may or may not be run by the Procurement department
  • The goal is to obtain the right product or service with the best combination of price, quality and service; the lowest total cost of ownership; and the least supplier risk

Business process:
  • Collection of requirements and other selection criteria (usually among end users, subject matter experts, Procurement, and others)
  • Development of a supplier questionnaire or RFx document
  • Development of a list of suppliers to invite to bid
  • Publishing of the solicitation
  • Supplier response acceptance
  • Evaluation of responses and selection of the supplier (contract award)
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