According to recent research, public sector organizations could save 15% of their budget if they adhered to procurement best practice – that equates to a staggering $1.5 trillion globally.
With that in mind, taking a fresh look at how you manage your procurements has never seemed a more valuable exercise.
In this guide, we draw on 20 years of experience in shaping and refining best practice for defence sector complex procurements, to share our top six tips for making sure you get the best possible outcome.
“Effective early engagement with potential suppliers routinely leads to better competition outcomes.
Developing an accurate understanding of your marketplace will enable better decisions to be made, by both buyers and bidders, in high risk, complex procurement projects.
Good market engagement helps buyers explore how best to achieve value for money from their upcoming procurements. Buyers can test their assumptions and technical requirements with service providers or equipment manufacturers to ensure that procurement objectives are achievable.
Market engagement can include the capture of rough cost data to check affordability and ease passage through approval gates.
Effective market engagement will leave suppliers better informed; primed to respond
effectively to your tendered contract…”
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Defence, UK MOD, early market engagement, managing stakeholders, social value, errors, transparency