Study On The Role Of Tendering In Economic Development

Added on -2020-02-05

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STUDENT NAME:STUDENT ID:SUBJECT CODE:ASSIGNMENT TITLE: REPORT ON CURRENT CHALLENGESOF TENDERING
Executive summaryThe project includes an introductory section where the essentialities of the project have beendiscussed. The steps in the tendering process have also been investigated during the process. Anunderstanding of the challenges faced during the process has also been portrayed here anddiscussed in details, which has been done in accordance to the three process of tendering whichhas been discussed, in terms of registration of interest, preparation of tender proposal,preparation of tender proposal, Challenges of payment terms, Requesting of a debriefing. Inaddition to that the cost related problems and unavailability of suppliers have also been discussedin addition to other. Finally findings and analysis along with conclusion and recommendationhave been provided for the project based on the challenges faced in the procedure of tendering.2
Table of ContentIntroduction to Tendering................................................................................................................4Different types of tendering and Challenges...................................................................................4Challenges related to different tendering steps................................................................................8How to overcome challenges of tendering......................................................................................8Recommendations..........................................................................................................................10Conclusion.....................................................................................................................................10Reference list.................................................................................................................................113
Introduction to Tendering Definition of Tender: Every financial institution has a well defined process of tendering in orderto select right vendor for the procurement of projects. In every business organisation tender isconsidered as an integral aspect through which various large projects can be submitted within itsfinite deadline appropriately. In this regard it should have to be considered that every tenderprocess must be ensured that the selection of technique is transparent and accurate effectivelyand efficiently. In this regard the company can publish a report on the terms and conditions oftender kits regarding meeting the particular requirements by the company with financialinformation and capabilities appropriately. The problem statement of the study is to evaluate therole of tendering in the economic development with its process and challenges arising fromtendering in an efficient manner. Identification of recommendations to remove such challengesshould have to be drawn appropriately in this study. Information required for tendering: Every business organisation in order to run their businessoperations in an efficient manner should require purchasing to meet customer satisfaction thatcan lead to gain competitive advantages and marketing capabilities through procurement orprocess of purchasing in a professional manner. In supply management and purchasing Tender isconsidered as integral aspects of long term agreements can be met by the process of tendering(Mouwen and van Ommeren, 2016, p.79). In this regard at the time of processing of tenderingcompanies should have the data base of tendering products and nature, trading name withaddress, group of products, company’s financial performance and supply management withprofitability and turnover respectively (Flynn and Davis, 2016, p.265). Different types of tendering and ChallengesTendering is a technique through which various bidding prices are invited to the interestedcontractors in order to carry out certain packages of construction task with key values ofaccountability, fairness, simplicity and clarity. It is an effective and efficient process to examinewhether a business organisation have the best suppliers available to meet their particularrequirements. In this context certain benefits that a company can enjoy to go for tendering shouldhave to be evaluated to point out the challenges. An organisation can compete in the marketplaceto gain competitive advantages and marketing capabilities to create brand loyalty throughtendering (Liu et al. 2016, p.713). Tendering is relevant for the public companies and4

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