You will generally need to submit a tendering document with each and every project you are interested in. This is not a process that should be rushed, and it pays to be prepared and have an in-house tendering data repository so that you find it easier to put together each tender.
So, let’s take a look at how contractors can get themselves prepared for tendering. Firstly, you need to familiarize yourself with the procurement processes commonly used in your industry, and get honest with yourself about your business’ strengths and weakness. It is important to communicate your strengths when putting together a tendering document.
Take the time to identify and research various target markets, so you can determine which markets you need to focus on, and make sure you understand the specific buyer requirements.
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You can also save yourself a considerable amount of time and energy through the tendering procedure by creating a comprehensive library of important tendering information. This includes the likes of copies of previous proposals, key financial data, case studies, quality statements, quality procedures, technical specifications, company policy documents, company background data, and staffing details. It is your responsibility to ensure that this repository is kept up to date. Hiring an accountant for the financial side of things makes sense. This is a useful reference for posting a job listing for an accountant if you don’t have an in-house one.
Finally, you should identify an in-house bid team and build a tender awareness system. The latter involves taking the time to find out what websites are relevant to the type of contracts you are interested in.
Putting Together A Procurement Schedule
No matter whether you are currently managing the development of a residential housing estate or you are in charge of the building of a new shopping mall, putting together a procurement schedule is of paramount importance.
Putting together a procurement schedule is of paramount importance for any type of construction project. Failure to do so could result in things running way behind schedule and way over budget. So, how do you go about creating the perfect procurement schedule?
Firstly, you need to determine all the contractors you are going to require in order to carry out the project. For example, you may need demolition services, drylining, steelwork, brickwork, concrete contractors for concrete flooring, timber stairs, scaffolding and more.
Once you have got your list together, you should put the services in order based on when you are going to require them. You then need to determine when you need each service to start. For example, the project may commence at the start of July and, therefore, you will need the demolition crew on-site straight away. However, you may not need the concrete flooring contractors until four months later in November. Once you have start dates for each service, you need to select a date for the tender to be returned by. Make sure you give yourself plenty of time to go over the document, especially if you have a few specialists starting around the same time.
Photo by Mohammad Danish