Contract Pricing and Negotiations.

Added on - 30 Sep 2019

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Contract Pricing and Negotiations
IntroductionIn this present paper, we will discuss the current administration procurement agenda. The paperalso describes the major trends which influence the acquisition and important challenges that arefaced as the administration tries in order to improve the values it receives for the money itspends.Current administration procurement agendaThe current administration agenda includes current administration and the implementation ofnational institutes of health. It includes the government-wide initiatives which comprise ofshared services and department initiatives which comprise of human resource, acquisition,information technology, and travel. The international trade Centre advises developing theeffective procurement system which supports the goals of the policy which are developed by thegovernment. The current agenda is to improve the public procurement system through thecomprehensive legal framework, effective monitoring and procedure of auditing andorganization which ensures compliance with regulations, standard conditions, and term of thecontract, improves the availability of public rules in order to improve the transparency, andothers. The government spent approximately 20 percent of the gross domestic product of thecompany. The efficient procurement strategy has an immense effect on the growth, governance,transparency and investment. The management agenda include four sections, namely, people andculture, efficiency, effectiveness, and economic growth. The people and culture agenda includethe enhancement of high-performance, building world class team and the hiring process from allover the society (Khan et al., 2014). The effectiveness agenda is improved through improving the
key transactions and smarter information technology delivery. The efficiency is improvedthrough strategic sourcing, shared services, drive productivity, cost savings and benchmarks. Theeconomic growth is done through turbocharge open data and accelerate lab to market.Major trends to improve the valuesFollowing are the four major trends:1.The dismantling of acquisition workforce2.Adapt to seismic change3.The post-millennial spending binge4.The inevitable results which include criticism and scandalThe trends consider cost reimbursement contracting, outsourcing and insufficient competition. Inthe year 2009, a presidential memorandum on the government contracting articulates whichenables to generate significant savings and shows the costs which are inefficient, wasteful andsubject to misuse (Howlett et al., 2016). The policies were expanded by the administration whichincludes mandatory savings, provide guidance in order to improve the management of the multi-sector and injected rigor to the ineffective process of the government which enables to improvethe performance of the contracts. Following are the five challenges which are faced by the publicprocurement system:1.Stabilization and restoring of acquisition workforceIt includes the challenges to attract the right talent, meeting the demands of governmentwith the high qualified talent, provide training to the new acquisition professionals, andothers.
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