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Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategic sourcing.
Instead, departmental staff are expected to successfully manage the process, which is unrealistic. Their CFO is required to ensure value for money and compliance with competitivebid laws. External advisors are in a good position to recommend the type of competitivebidding process which can optimize the competitive tension.
The suggestions apply to all segments of competitivebidding, including the SME segments of Supplier Diversity, Indigenous and Social Procurement. Public sector professionals must responsibly procure goods and service contracts on behalf of the taxpayer.
These include Indefinite Delivery and Quantity Contracts (IDIQ) and Incentive Contracts, each with its applications and nuances. Governmentwide Acquisition Contracts (GWACs) allow multiple government agencies to purchase goods or services from a single contract vehicle.
Multiple Award Contracts (MACs) and Governmentwide Acquisition Contracts (GWACs) are two important contract types, with GWACs specifically designed to streamline the acquisition process for IT solutions and services. Furthermore, the federal contracting process has a beneficial aspect called Small Business Set-Asides.
Competitivebids need to be issued; policies updated: contracts need active oversight; staff hiring and retention; trade agreement obligations; supplier performance evaluations; or Indigenous engagement must be factored in to the decision-making. There can be various types of services which supply chain consultants can provide.
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