When it comes to organizations having to evaluate bids placed against tenders, it becomes crucial that bids are evaluated against the key elements and the right supplier or vendor is chosen. As bids are usually placed in a competitive scenario, an organization or a company cannot simply follow an ad hoc process. For that reason experienced professionals who can handle such a process are sought out and their expertise in bid management is crucial when tenders are launched.
Features of bid management
Usually organizations assign bid management to professionals who can handle the different aspects of a tender; there are several aspects of floating a tender and monitoring the bids received with respect to the procurement process, evaluation criteria, how suppliers would be selected, awarding a contract and so forth. Indeed, bid management is more than evaluating the answers that are provided or whether the criteria that are stated are met by suppliers. In many cases it is a continual cycle and improvements are sought every time. Hence, previous tenders need to be reviewed and built upon to ensure that the upcoming tender has greater chances of success.
There are legislative aspects of procurement that become applicable when tenders are being floated to obtain a supplier or a group of supplier for a certain commodity or service. The legislations or industrial standards that are applicable need to be reviewed and followed in what is bid writing. In case there is negligence in checking or inspecting licenses of bidders or any quality standard that is not followed, there can be costly consequences later on. Usually procurement acts, reforms and contract regulations of relevant region or industry need to be checked and compliance should be present in floating of tender as well as in evaluation of bids submitted.
Qualitative and legal approach
With experienced bid management professionals handling the bid selection process for a tender that is floated, a company can be assured that the bids would be evaluated keeping in mind, pertinent legislative and industrial norms; also an objective evaluation approach should be used to ensure that relevant aspects are considered when weighing the different parameters and how each bidder stands against these factors. With a transparent and fair approach, bidders would gain confidence in the bid management process that is followed as well as the best results are guaranteed for the client companies. These aspects need to be kept in mind when choosing a professional bid management service.