Procurement is the process of acquiring goods and services.
The procurement process begins with the identification of a need, through to processes of risk assessment, seeking and evaluating alternative solutions, and the awarding of a contract.
With procurement processes becoming increasingly complex, principals must carefully plan and manage the process to ensure the needs of the business and the project are met in the most effective and efficient manner. Otherwise, this can cause unnecessary delay, waste of resources, tender challenges and disputes between the parties.
As we approach the end of the year, we outline 10 key issues businesses need to be mindful of in 2020:
- Level playing field: Are all tenderers treated equally and fairly?
- Late tenders: What are late tenders and when can they be accepted?
- Consistency of criteria: What criteria must the tender satisfy and how can they be changed?
- Post tender negotiations: What are their difference with clarification and how should they be conducted?
- Intellectual property: Who owns the intellectual properties that arose in the tender and who can use them?
- Disclosure: How should the result of the procurement be communicated to the tenderers?
- Variations: What are variations and when are they acceptable?
- Conflicts of interest: What is conflict of interest in procurement, what is the consequence and how can it be avoided?
- Confidential information: What is ‘confidential’ and how should the confidential information be managed?
- Small market: What if only few contractors are available in the market?
In our final Sydney procurement seminar on 11 December, we will deep dive into each of these key issues and prepare businesses for the complex procurement scene next year. Click here for more information.