Tips For Managing Tender Bidding Process Effectivelyby Trade Reader Trade Information Portal
The first look at the tender information is often overwhelming and bid managers are likely to get confused about where to kickstart the process. Your application for the tender is a crucial part that could make or break your chances of winning the contract. There is a comprehensive process you need to take into consideration to effectively manage your bid and to ensure that you are sufficing to all the terms in it, making it an optimal pitch.
If you are reading this, there are fair chances that you are looking forward to managing your next bid in a manner that you could ensure a win. Read on and find some important tips to manage the bid process effectively.
1. Choose the right projects to bid
Bidding for every tender that rolls out is a waste of time and resources. Winning contracts that your business could not efficiently complete could do more harm than good. We recommend you to define your objectives, analyze the bid and then work on it only if it is the right fit for your business. For instance, if you bidding for a fertilizer tender in India and you have purchased the bid plan, attended meetings, started taking subcontractor quotes and then you realize that you are not going to make decent profits if you win the contract. In this case, you could abandon the bid rather than investing your resources further on it.
2. Approach Systematically
The first thing to simplify the cumbersome tender submission process is to fragment the tasks into sections and then start the planning. You can then delegate the sections to different team members and get the work started.
Be prepared with every detail related to the project. Each and every team member must be aware of your business’ strategic goals and how it aligns with the purpose of this bid. Make sure all the members are briefed about the scope and significance of the bid, their exact role in the process, and what are your expectations from them to turn the bid in your favor.
3. Precise compliance management
A well-planned bid is the one that flawlessly suffices to all the terms of the tender. Bids fail because of simple reasons like forgetting to submit an important document or include important appendices. It is not so difficult to avoid such silly mistakes. You just need a dedicated compliance management process in place.
4. Evaluate subcontractors well
Getting subcontractors on board could be daunting at times. You are expecting great performance from them as well as are looking ahead to competitive pricing. This makes it complicated to choose the right subcontractor that could support you in the best possible manner in the project.
We recommend you to set a pre-qualification process for every subcontractor. Once you have defined your expectations from a subcontractor, design a qualification process. This will allow you to have a better understanding of their potential and how it could add value to your project.
Do you need any further information about managing chemical tenders, feel free to drop us a line!
Created on Apr 24th 2020 00:00. Viewed 424 times.
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