Bid Writing Bonus: Tendering Preparation and Management

Tender preparation and management is a complicated process, involving a great deal of documentation, research and evaluation. It is a critical part of the business and procurement process and needs to be done carefully and accurately. From the vendor (supplier) perspective, preparing to tender can be daunting, especially if you are new to the tendering process.

In this blog, we will cover good practices for tender preparation, how to manage the tender process, our free learning resources and how you can outsource the entire process to a bid writing company.

What Do We Mean by Tender Preparation?

Tender preparation is the process of preparing a tender in response to a tender request from a buyer. This includes researching and developing a proposal that outlines the capabilities and competitive advantages of the company. This also includes outlining the terms and conditions of the bid, and any other details required to complete the tender submission.

The intention of the tender preparation process is to ensure that the bidder is best positioned to win the tender.

Good Practices for Tender Preparation

Develop a strong understanding of customer needs

Vendors should understand the customer’s needs by asking questions and researching the customer’s organisation, goals, and objectives.

Prepare comprehensive cost proposals

Proposals should include detailed estimates of labour, materials, design, and other costs.

Stay organised

Vendors should create bidding guidelines and an organised filing system for tracking bids (including your own internal and external deadlines).

Research competitors

Vendors should research competitors to identify their strengths and weaknesses and anticipate potential competitive tactics.

Set up a clear timeline

Set up a timeline for submitting responses, preparing deliverables, and reviewing document changes. Ensure you deliver on time and within budget, while staying within the legal framework.

What Do We Mean by Tender Management?

Tender Management is the process of managing the bid submission process, from preparing proposals to submitting bids and negotiating with potential buyers. It involves processes such as preparing tender documents, responding to queries, and collecting financial information and other tender related documents. The vendor should also be actively involved in monitoring the progress of tenders and updating them as and when needed.

The ultimate aim of tender management is to win the bid and secure lucrative contracts.

Good Practices for Tender Management

Prepare a detailed set of documents

Ensure you have all the necessary documents to submit your bid, including the tender submission document, technical specifications, financial estimates, and any other required documents.

Continue to research the organisation and tender requirements

Researching the organisation’s background, its products and services, and the requirements of the tender is part of your tender preparation. However, it is equally important to continuously review your own offering and the requirements of the tender.

Develop a comprehensive tender proposal

Develop a comprehensive tender proposal which clearly demonstrates the benefits of your offering and meets the tender specifications.

Request clarifications when required

Don’t be afraid to ask for clarification if there is something in the tender that you don’t understand or feel needs further explanation.

Follow-up after bid submission

Following up after a bid is submitted is often necessary to help differentiate one’s bid from competitors. Even if your bid is unsuccessful, it is vital that you follow up with the buyer and understand where mistakes were made to improve for the next tender.

Our Free Learning Resources

If you have any more questions then Tender VLE will have the answers for you.

Join the UK’s first-ever virtual learning environment to offer a range of free tender-related videos. Whether you have years of tendering experience or are starting out from scratch, Tender VLE will have something for you.

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See something you like? Contact our team for a quick chat and start your Tender VLE journey today.