Tuesday, March 5, 2019
Identify three (3) risks of the bid strategy Essay
After identifying the guest key evaluation requirements I have identified three risks that whitethorn affect our legal tenderding system. First, I want to identify why its central to know your risks when creating a bid strategy to help you conceive why I choose these top three risks. Risk vigilance is the process of identifying risk issues and the options for controlling them, commissioning a risk assessment, reviewing the results and selecting amongst the assessed options to outmatch meet the goals.The purpose of risk analysis is to help managers better hear the risks (and opportunities) they face and to evaluate the options avail fit for their control. (Vose softw atomic number 18, 2007) The top risk of the bid strategy for this telephoner would be price. Price was selected as the top risk because although the company would like to win the bid, the price has to be within a image where they could also make money. The second risk selected is Logistics. This risk was selecte d since the reaping has to run short overseas. Depending on the time frame and the constitute to have the product shipped the product may non make it to the destination in time.It is very important to have the product delivered in a timely manner to gratify the end user requirements. Thirdly, the last risk selected is Customer Commitment. Our company mustiness come through all the requirements in order to make the end user happy. Since the product is going overseas it go out be hard to follow up on maintenance. Without having our own personnel at the end user stance or close to the location it will also be a challenge if there are any issues with the product. Based on the three risks of the bid strategies that were selected there are also three opportunities to excuse each risk.First we have the price, now when negotiating on the rate we will really need to do our research. Its important to have association of previous pricing and to also include overhead, packaging an d transportation. Although, we have to issuance all these things into consideration we also have to remember we are not the only company bidding on this offer so we must rate acceptable amount. Next, we have logistics. Our company would have to negotiate with a freight onwarder for a reasonable rate to have the freight transported to the last(a) destination.In order to negotiate a reasonable rate we would concern that if the rate offered is good this would be an opportunity for extreme growth. While we are negotiating we would have to make sure the transit times would be guaranteed in order to have freight delivered to the destination on time. Finally, we have node commitment. This may be the most important opportunity of them all. If our company is able to provide a reliable solution to the end user necessitate we will gain past performance while making our customer happy.We will provide this service by checking with the customer on a monthly basis and sending an employee ov er to the end user location every two to three months to check that our products are working correctly. The squeeze side of risk is opportunity. Every bid carriers with it some opportunities beyond those stand for by winning the keep down. Potential opportunities include future additions or changes to contract value via market share, maintaining dominance in a particular area, protect an area or contract from assault by competitors, or utilise the contract as a gateway to future procurements. Osborne, 2011)In conclusion, by looking into these risks and opportunities we will be able to determine whether we want to bid or no bid. If we cannot provide the end user with the requirements they need in a timely manner at a great cost it will not be beneficial for us to move forward with the bid procedures. As a company we must protect our defacement and our products. So, we need to look closely at this conclusion to make our last-place bid or no bid decision.
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