Project Procurement & Procurement Assistances
Procurement & Procurement Assistances
Procurement professionals need to cover a wide remit in their job that goes beyond the traditional belief of just purchasing goods and services. It also involves establishing requirements, market research and vendor evaluation, negotiating contracts and managing risk.
Pre-qualification of vendors/ Source/Examine Supplier Options
Generate enquiries as per specifications & standards to multiple vendors
Receiving offers for evaluation
Commercial evaluation of received offers (Price and Terms) – Once a supplier is chosen, companies should stick with that relationship and try to establish preferred pricing and specific terms. i.e. Delivery)
Purchase order preparation -The purchase order is issued to vendor, the formal contract used to buy the product.
Receipt and inspection – Once delivered, inspects and, subsequently, accepts or rejects the product. Rejection is almost always due to a damaged product.
Invoice Approval and Payment – At this stage, three documents must match when the seller wants payment – the invoice, the receiving document (attached to the product) shall be in line with the original purchase order. This is known as three-way matching. If there is a discrepancy, it must be resolved before payment is made.
Record Keeping – Keep good records for all relevant documents for every completed purchase.
Convmech IES provides expediting services also as per requirement of the client to verify/review the progress of work by visiting at the Suppliers’ premises, including review of the production schedule and of all activities which might impact overall project timeline/delivery, such as engineering work, clarifications of open issues with the Client, provision of raw materials and of sub-contracted components or activities.
Client firms receive an understanding of contracting requirements and the know-how to obtain and successfully perform contracts. In business for at least one year can subscribe to a free bid-matching service informing them of bidding opportunities (when electronically available) matching their specific product and/or service profiles. CONVMECH provides a wide range of assistance, such as: guidance on initial registrations and small business certifications, researching procurement histories, small business matchmaking conferences, proposal guidance and review, contract performance issues and much more.
Cost cutting is on organizations’ agendas 99.9 per cent of the time, and effective cost management is important not only when it comes to purchasing goods but also when it comes to supply chain management.
By using the Achilles communities to source suppliers, procurement officers can help to reduce their company’s outgoing costs, along with lowering its risk of financial, legal and reputational damage.
As part of joining an Achilles community, suppliers complete a pre-qualification questionnaire providing procurement professionals with useful data and insight to help with sourcing suppliers for projects and contracts, whilst also understanding risk implications, and promoting fair and open competition.
Achilles communities help to reduce the cost of maintaining up-to-date supplier data for buying organizations, as well as improving supply chain efficiency.
You can use the Achilles ROI Benefits Calculator to see how much money your company could save by becoming a buyer member of an Achilles community.
Getting the chance to choose which suppliers their organisation works with means procurement professionals hold a lot of power within a business. As a result, they are in a position to make sure the suppliers in their supply chain can add value and drive innovation, potentially placing their company in a more competitive position.
Innovation can be driven through choosing suppliers that use the latest equipment, technology and processes to give the business a more unique selling point.
Following on from the last point, procurement departments can also assist with driving innovation by incorporating the latest technologies into their operations.
For example, taking advantage of the online Achilles communities allows procurement and risk teams to quickly see a supplier’s pre-qualification status, and view critical documents and information relating to their standards and capabilities.
There’s one simple, online portal for everything, which allows the company to spend less time getting to grips with different pieces of complex technology, instead leaving it with more time to concentrate on growing its operations while keeping risk at bay.
As buyer members of Achilles communities, procurement professionals are able to quickly identify suppliers that offer the product or service that they require for different projects. The model allows them to locate suppliers within the particular market they are working in at different times, enabling them to drive growth for their wider business in new markets.
The communities make it easier for buyers to make informed decisions about suppliers, providing insight into a supplier’s standards before awarding a contract to them.
To summarise, in the Achilles communities, you can find the right supplier in the right location for your business.
Failure to comply with aspects of corporate social responsibility (CSR) is one of the biggest risk factors for buying organisations at present. If it becomes known that a company is not complying with an area of CSR – such as the Modern Slavery Act – because of its supply chain, the consequent reputational damage can be irreparable.
However, by assessing suppliers using our detailed pre-qualification process – which doesn’t just involve the questionnaire, but also audits where necessary for further evaluation – procurement professionals can help their organisation to obtain and validate supplier information in an efficient manner.
Achilles communities also allow for collaborative relationships between buyers and suppliers to drive improvements in supplier performance, which can subsequently lead to better compliance with CSR policies, including those relating to sustainability, health and safety, the environment, and excess carbon emissions.
To learn more about how Achilles can help procurement professionals to support their organisation’s wider goals, get in touch with the team by completing the contact us form at the top of the page today.