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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.
Author: Helen Doucette “Accept the bid from ABC Company” said the VP of Finance to the Director of Procurement. “I According to the CompetitiveBidding Law of Canada, we can only accept compliant bids. Many organizations have written policies and guidelines on Ethics, but is this situation an Ethical or Moral issue?
Their CFO is required to ensure value for money and compliance with competitivebid laws. Consistently, external auditor findings have shown the lack of professionalism in procurement to be a financial problem often accompanied with ethical dilemmas. The answer is not an either-or decision. Outsourcing is a logical option.
The suggestions apply to all segments of competitivebidding, including the SME segments of Supplier Diversity, Indigenous and Social Procurement. These reactions can lead to strict risk management and purchasing policies with overly complicated bid documents and onerous requirements that are imposing on potential SME bidders.
Having multiple suppliers to choose from allows a procurement team to leverage competitivebidding, ensuring the best value for the organization. In such cases, the competitivebidding requirement is not applicable. Defining Sole Source Procurement In the realm of procurement, variety is the spice of life.
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.
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.
There are also numerous other items that should be included in the SOW such as; Special Conditions, Contractor/Supplier liability, Terms and Conditions of the Bid Process, Regulatory compliance requirements, Standard owner/vendor terms, conditions and legal clauses and Glossary of Terms/Definitions. STEP 4 Publish your RFP!
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