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Not to mention, ERPs can’t connect you with the vendor communities and networks that sometimes come with a dedicated procurement solution, which means that fewer qualified vendors see and bid on your agency’s solicitations in the first place.
Leverage Group Purchasing and Cooperative Contracts for Cost Efficiency One of the most effective ways to streamline procurement is by using group/cooperative purchasing contracts. Group purchasing allows you to leverage the buying power of thousands of members, significantly reducing costs and saving time in the procurement process.
Government expenditure through public procurement is essential since it ensures that there are contracts available to be bid in a fair, open, and competitive manner. How Transparency is Ensured in Procurement Transparency is achieved through open contract notices, public tenders, and clear evaluation criteria.
You can also use its eSourcing solution to create RFPs, receive bids from qualified suppliers, analyze supplier performance and managecontracts in one place. Ivalua’s ContractManagement module allows you to easily track milestones and consumption in real time across multiple agreements.
Between 2011 and 2021, single bids doubled, the number of bids halved, and direct awards surged. As a reform community, we agreed that we need to focus more on long-term value, with sustainability, social value, and innovation becoming increasingly important and that contractmanagement is where this value is often won or lost.
The eSourcing solution includes the ability to create RFPs, receive bids from qualified suppliers, analyze supplier performance, and managecontracts all in one place. In addition, our ContractManagement module helps Manufacturers to easily track milestones and consumption in real time across multiple agreements.
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