One of the key evolving trends for government is the use of data to help plan for the future, and procurement is a team who can benefit greatly from collecting and analyzing data. Here are some simple questions – can you answer them for your procurement office?
- How many Bids / RFP’s are produced and processed annually?
- What is average response rate of your bids?
- How many available vendors did you have on Jan. 1st? How many available vendors a year later on Dec. 30th?
- How many Vendor meetings? Pre-bid meetings?
- Who’s planning on attending a Pre-bid meeting?
- What is an item costing?
- Are our estimates accurate?
- Are we meeting Small Business / Local Business goals?
- How many bids are posted per department?
Collecting the data is a big responsibility, but even more importantly, how do you use this collected data? How would these numbers be helpful? Read more for 5 key reasons on how eProcurement might be helpful.
