Understanding How to Win Government Procurement Contracts
What is Public Procurement?
In simple terms, it is a competitive process that allows government contracts to supply businesses with commodities and services. Many are challenged with finding quality goods and services while maintaining a reputation of being a successful business. The commonalities in public sectors, such as local spending initiatives and review of procurement process as well as strategies, can show similarities among businesses. Also correlate the impact different approaches have on a business.
The goal is to help businesses become successful in the public sector and understand the common themes in all public procurement. The value of doing business in the public sector provides more opportunities to thrive and succeed. Sustainable public procurement can contribute to several societal goals.
- Understand the Public Sector Market
- Common themes shared by all public procurement departments
- Centralized vs Decentralized (or mix)
- Transparency or procurement
- Utilize tools of the the trade
- Spending limit (Informal and Formal level)
- Local Spending initiatives
- Review of typical procurement processes
- Strategies for winning contracts
- Strategies for success after awards
- Ensure fair and open access to opportunities
- Learn how local businesses can win more contracts with the public sector
- Protecting the interest of tax payers
- Model Procurement Code- every public entity follows a prescribed set of rules
- Being aware of similar tools of the trade between each public procurement such as RFQ (Request for Qualifications) and IFB (Invitation for Bid)
- Different levels of competition such as formal spending limit changes the approach on how to do contracts such as amounts of vendors.
Procurement can be a powerful resource for public sectors because it can help inform business owners about the process and strategies for receiving and maintaining public procurement. Finding the spending limit enables a business to view different quotes and be aware of which public entity they are contracting with.This ensure local suppliers are involved in procurement process. The program encourages a circular economy which reduces waste of resources and promotes local initiative of obtaining government contracts. This gives you the ability to contact and challenge bids in competitive procurement by making sure a registration process is known for supplier to make their interest known. In Addition, start a transition from buying supplies at low-cost and gear towards best value.