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Selection of Source,
Modes of Tendering.....Purchase
procedure (contd..)
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Obtaining materials at the right price is a major
challenge for any purchaser.
The right price is never an absolute term but is
extremely relative.
It takes in view the right quality, the right time and
the right source of supply.
Obviously , the mode of tendering also depends on the
kind of materials to be purchased, when being purchased
and from whom.
Price , as such, happens to be the sole determinant
of any purchasing process. Other things remaining
constant , the |
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exercise of determination of the right price has
resulted into different modes of tendering. The process
finally succeeds in finding the right source or seller. |
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A tendering process addresses itself by
clearly describing the need i.e. materials
or service with complete specification
(tender specification) so that there is no
ambiguity left between the purchaser and the
seller, identifying the sources (vendors /
suppliers )from whom the need can be
satisfied and spelling out the terms and
conditions for agreement between the seller
and the buyer. It's basically the urge to
get the right price that the concept of
competitive buying emerged.
It implies generating competition among the
sellers in respect to the price for their
acceptable materials / service , on the
basis of other terms and conditions , by the
buyer.
It is based on the tendering process that
ultimately the seller is selected for
placement of order.
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The following are the widely recognised
modes of tendering ,both in private and the
public sector domains.
In fact, these modes are the modes of
tendering recognised by the materials
management function every where :
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Besides the above , other dimension
of the modes of tendering is the
tendering steps that is to be
followed while scruitinising the
tenders. The following are popularly
used methods :
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Single Bid
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Two stage Bid
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three stage Bid etc.
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