Have you heard that it’s Small Business Advice Week? We’re officially midway-through, and it’s shaping up to be the best week in its 12 year history yet.
For those who don’t know, it’s a week that celebrates small businesses by starting the biggest nationwide conversation to offer up tips, advice and support from all over the UK. It began in 2003, and has been growing ever since.
Every day this week, we’ve been giving out expert advice from a variety of fields, and today is all about the world of Procurement.
Kevin McLoughlin, Director of Procurement with 17 years’ purchasing experience, offers up his 5 step plan for a flawless Procurement procedure that you know won’t fail.
The simple Procurement step-by-step
- Don’t give away your budget – simply set out your requirements and any deadline to be priced. If pressed for a budget, avoid giving it away but remain helpful by using statements such as “economic price”, “high quality” or “simple solution” to give suppliers a price steer. If you reveal your budget you can be sure to receive quotes that match or exceed it.
- When you receive a quote, make sure you understand what’s included. Ask for a breakdown and what services are included or excluded. For example, delivery – will the goods be carried into the premises or just left outside? Installation – will any mess be cleaned up and taken away?
- With any quote, ask if a discount is available. Failing that, see if any additional services be thrown in for free – such as training.
- When accepting a quote set out any conditions under which it is accepted, such as start date, delivery date and completion date. If it’s critical a job needs to be completed within three weeks, then ability to meet a three week deadline must be a clear condition of full payment.
- Paying by instalment? If goods or services are to be delivered over several months or years, ask for split payments so the supplier is motivated to complete the job to the highest standard.
Still got more questions about Procurement, or need some personal advice for your business? We’re running a great competition, giving away a personalised expert session. Click here to find out more!