Assignment on Procurement Method

Added on - 21 Apr 2020

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Running head: PROCUREMENT METHODProcurement MethodName of the StudentName of the UniversityAuthor’s Note
1PROCUREMENT METHODTable of ContentsFactors for negotiating an agreement and evaluating competitive proposals..................................3Contract Management......................................................................................................................4Factors of effective contract management.......................................................................................5Implementation of these factors in MFB.........................................................................................7The role of commercial terms and conditions.................................................................................9Uniform Commercial Code...........................................................................................................11References......................................................................................................................................14
2PROCUREMENT METHODFactors for negotiating an agreement and evaluating competitive proposalsStrategic decision-making process on an agreement helps in negotiating processes. Thereare various factors and steps involved during negotiation process including inter-state negotiationbe inclusive and exclusive. Agreements involve mechanism of monitoring in the company andaimed at motivating compliance. There are full commitments required during agreements.However, sometimes it causes failures. Some factors that include during negotiating anagreement are as follows:ObjectivesThe objectives of the company and the party needs to be clear and concise beforeentering into any negotiations. The objectives of the company must be properly circulatedbetween the second party members (Girth, 2014). The clear objectives of the agreement helps inunderstanding various terms, condition of the agreement, and contract. In the case of F&BCompany, the use of clear narration of the objectives might help in negotiating with the client.InformationData and information related to the agreements during negotiation helps in maintaining aclear objective pf the session. A clear analysis of the data and information related to the contractand agreement maintains a healthy atmosphere during negotiation (Cullen et al., 2017). A bothway communication channel is created between the parties that maximizes the chances ofpositive negotiation. On the other hand, lack in the information may lead to arguments andquarrelling. An organized discussion can turn into aggressive behavior of participants ofnegotiations (Wibowo, Tjahjono & Tomiyama, 2016).Concession
3PROCUREMENT METHODNegotiation is a process to bargain during an agreement has reached to two or moreparties. It is rarely possible in negotiation for an agreement to reach immediately for each side tohave identical objectives (Khan & Khan, 2013). Therefore, agreements are one where there is anavailability of concessions and profitability for outcome. During an agreement, a party canexplain their objectives and ideas and other parties are fixed to their goals. The concessionprovided during the negotiation needs to be properly managed and according to the profit of thecompany in the market.StrategyThe strategy planning is a vital factor for the negotiation in an agreement. A properplanning is required before entering into a negotiation. Planning helps in managing thenegotiation in any worst case (Rendon, 2016). The strategy is based upon the requirement of thenegotiation topic during an agreement between two or more parties. In the case of F&BCompany, the company is indulged with the clients into an agreement. The planning is done forunderstanding the limits of the company during a negotiation in an agreement (Kogut-O'Connellet al., 2017). This helps in maintaining an ethical atmosphere among the participators of thenegotiations.Contract ManagementThe basic aim of the cost management is to create a link between the price and value andaffordability in relation. The cost managers understands that they require to work for the benefitsif the clients for the inception of the project and ensure best results out of it. However, it does notmean that cost manager acts as cost cutter of the company (Van Weele, 2014). The cost managerhave to understand about the type of investment in the project. The cash-flow analysis helps the
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