Open, Transparent and Fair environment is healthy for procurement
system, and should be conducted in the same manner. Modern practices and
principles enforce to underline unrestricted environment in procurement system.
It is a broadly accepted principle of all time.
Transparency :
Can be defined as timely ,easily understood to the available
information, it also protects the image of the process and the interest of the
organization, Stakeholder and the public.
CFO’s of all organizations almost have the dream to reduce millions of
money in costs, through different ways and to become the most attracted leader
of there organizations in a shortcut ways few simple rules to be followed by
the CFO’s to retain the attention in the procurement sector.
Fair Practice Rules:
Should be open to public for the examination of this procurement
process.
Pre-Qualification of Vendors
Tendering criteria
Technical Envelops
Commercial Envelops
Evaluation Criteria
Awarding of Contracts
The mechanism to promote fair procurement system is to establish
selection panels for the evaluation process.some organizations may use
e-procurement technology which automatically evaluates the process which is the
need of new modernization, procurement rules guarantying fair and
non-discriminatory conditions of the entire competition.
The purpose of fair practices to retain trust in your customer and
suppliers,your participants know that you follow principles and guideline for
the best prices and quality of your business,it will also make relationship of
buyer with supplier and reliable participants will ensure transparency in price
and quality.
The key safeguard towards the corruption and help in the improvement
of competition,procurement should provide access to the reliable information
about the activities happened in procurement organization.
Transparency and Vendor Relationship:
Open and frequent communication between the vendor and procurement
communities will make strong relationship in transparency.
Transparency and Procurement Professionals:
In transparency process code of ethics are very important for the
procurement professionals there should not be any conflict of interest between
the both parties.
Transparency and Procurement Organization:
Accurate information and adequate resources must be provided to
employees by the procurement organizations in order to achieve a sustainable
transparent procurement process.
If you want to know more about Transparency and
its classifications using the observatory stay tune with us and also know about
all compulsory tools of strategic sourcing in our next blog.
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