ProcureTiger has studied a full comprehensive picture of organizations and it thus offers Portfolio Based Procurement as a strategic approach to procurement and spend management. All your category spend management rooted through e-procurement is Portfolio based Procurement. We act as a Point of Contact (POC) and manage the entire procurement process for your organization.
PBP is category or commodity specific thus it helps drive your organization's current spend management and capabilities. We deliver best results with the help of our category specific knowledge, manpower, expertise and supplier relationships.
The process of Portfolio Based Procurement includes:
Analysing the market database for suppliers as well as initial prices
To collaborate with suppliers for price discoveries and quotations through our E-Procurement suite
To find out the difficulty and risk associated with securing these goods, services and works
To incorporate appropriate strategies and provide platform to the client for simplified procurement process
The deliverables and scope as a part of our Portfolio Based Procurement are elaborated below:
Deliverables
Business Rule Document preparation
Earnest Money Deposit collection management
RFQ Management
Floating an RFQ between the PQ vendors (Tech + Commercial / Technical / Commercial).
Registering Buyers and Bidders
Providing complete training to Bidders and Buyers
Serving as a bridge between the Bidder and the company for any technical queries regarding the RFQ floated
Follow up on the vendors for the RFQ submission
RFQ Collation
Spooling and preparation of the comparative reports on the values and inputs received.
Prepare for the Auction and define the parameters with mutual discussions
Auction Management and Execution
Registering Buyers and Bidders
Providing complete training to Bidders and Buyers
Floating a mock event to check if auction meets the requirements
Ensuring Supplier participate in mock event
Ensuring supplier downloads & acknowledgement of the RFQ document
Mapping of pre-qualified suppliers to the events
Finding new vendors
Configuration of multiple time zone/currencies for global bidders
Managing and monitoring the entire event; concluding the event & submitting the reports
Generate and share Savings Report
Generate and share buyers and suppliers login date, time, and IP report
Generate and share bid history of all suppliers (all valid & invalid bids)
Data archival for business continuity periodic procurement
Providing vendors in case available in ProcureTiger current database
MIS, if multiple events are conducted
The entire Portfolio Based Procurement will be completed in 30 days.
Advantages of Portfolio Based Procurement
Ensures that expected savings are earned, managed and realized in a simplified and effective manner
It saves time and human effort
Reduces your supply chain costs
Improves supplier collaborations
Cuts your individual procurement process costs
Ensures timely supply of goods/services
Helps gauge the progress of a particular portfolio with respect to the whole procurement process
Gives a comprehensive report about the spend management that can be utilised for audit
