Procurement Planning and Bid Management
Procurement management or planning is an integral part of overall project management. It entails a detailed plan around methods to procure raw materials and goods necessary for the entire manufacturing process and strategies to maintain good supplier relationships for the continuous supply of goods at nominal prices.
What is bid management? Bid management involves management around two key concepts—knowledge flow and people. It revolves around the management of the bidding process and often involves the use of bid management tools to automate the process and make it smarter and more defined.
Procurement planning and bid management are closely related because most bids are related to the contracts for the supply of raw materials and/or goods to organisations.
Course Objectives
- Write strategic procurement objectives and initiatives to support long term directions
- Arrange ‘spend items’ into categories that support planning of go-to-market strategies
- Apply demand forecasting techniques to improve planning of procurement activities
- Generate vendor integration strategies to ensure supply security
- Evaluate vendor bids in a scientific manner to support selection decision making