The Invitation to Tender is issued! The clock is ticking! A lot of information is required!
The first key decision to take is : will we bid?
Submitting a tender requires a lot of commitment and resources and if we have production constraints it may prevent us to submit other more profitable bids in the future. A conscious decision should be made! This decision should be taken quickly!
A good approach is based on a probability to win exercise twinned with scenario planning. This exercise is possible if we have a solid database of previous tenders’ results and a clear idea of what is to come! Our decision must be taken quickly!
If we decide to bid, we must build our response within the time limits and we should remember three golden points:
- Compliance to the tender’s request
- Succinct and self-explanatory answers
- Right price level to maximise our profitability
Value In Tenders 