Understanding business development concepts is essential for Bid Managers because winning bids majorly depends on how good you (your organisation) are at positioning your product/service well before the procurement cycle starts. Let’s understand the concepts in a simplified way. We usually buy goods and services once we are convinced about the features and benefits. We …
Understanding Procurement Lifecycle is very important for business owners, solopreneurs, freelancers, bidding Organizations(sellers), sales teams, business development teams and bid management staff. You need to get familiar with the concepts of Procurement and Public Procurement applicable to your business and applicable to bidding. Being a seller, all of these teams are directly involved in the …
Ask yourself these questions: “Am I well prepared for bidding?” “Did I understand the process?” “Do I have the right resources to bid?” “Did I understand the prospect’s problems?” “Do I have the right solution for the prospect’s problems?” “Did I understand the competition?” “Will I be able to compete with the competitors?” “Did I …
How to Know Whether You are Ready for Bidding or Not? Read More »
Simple terms like buyer, RFX, seller, proposal, contract, procurement, etc.have been used to explain various processes involved in bidding. However, you may come across different other terms when you actually step into the bidding process, depending upon the industry you work in, the geographical location of the buyer organizations and a lot of other parameters. …
Usually, in any procurement, there will be a buyer (customer/prospect) and a seller (vendor/bidder). The buyer may be an individual, a group of individuals, a large corporate, or a group of corporates. Similarly, the sellers too can be categorised broadly. We should first understand and simplify the procurement process thoroughly in order to understand the …
Bid Management is akin to preparing for an examination. The bidding process is more or less similar to the examination process, though a little bit complicated in reality. If you can relate the sequence of the examination process with the bid management lifecycle, you can easily understand how it works. Here are some important terms …
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