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By bridging their finance gaps, their business as seen significant growth and expansion. . By bridging the gaps, Amrest could even start the tendering process earlier with a wider range of suppliers. Part of procurement, driven by finance–payment is a key part of the supply chain partnership. . Part 1 HERE. Part of the Solution.
We recently published a blog post that provides a gentle introduction to AI in procurement, illustrating the thinking and work that needs to go into even relatively straightforward processes such as comparing green criteria for public contracts against real tender notices.
To tackle this problem, the country has proposed wide-ranging legislation , including an anti-corruption package with measures to standardize the operations of Mongolia’s state-owned enterprises (SOEs) and ensure they follow consistent rules throughout processes like tendering and procurement, among others.
Yukon Government has used bid bonding as a risk mitigation tool on many procurements, particularly on construction-related tenders. Could a local indigenous finance institution step into the role of a surety company and provide the bonding requirements to the local business community? Could we explore ideas such as cash securities?
On a (trite) humoristic note: a first idea to slow any task down would be to leave its implementation to a cumbersome public tender procedure. Ultimately it might be preferable to perform some tasks in a way which is less efficient, yet also less risky and possibly more ethically acceptable. If so, what is to be done?
This risk is particularly acute for high-risk applications of [algorithmic systems], for example where an [algorithmic system] determines a person's access to employment or housing or where the application is in a highly regulated sector such as finance ’ (at 10).
If it is material or product, and I only want one evaluation criteria to be used, which is the lowest bidder, I issue a Request for Quote (RFQ) or Request for Tender (RFT). Team members should include procurement, finance, legal, and subject matter experts. Here is how I determine the right one. The latter saves you money.
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