TLIR4010: Plan purchasing Assessment Answers TAFE

Course: TAFE

Assessment Type: Practical

In an effort to have a more intentional and strategic approach to purchasing, the company has been using a plan purchase assessment. This process allows for better anticipation of needs, improved time management, and reduced costs. Utilizing this process will provide the company with greater efficiency in meeting their goals while saving money for both themselves and their vendors.

The plan purchase assessment is an orderly way of approaching the purchasing process. It begins with creating a needs list, which is then prioritized based on importance. After the needs are identified, the available resources are assessed in order to determine what can be realistically purchased. Once the available resources have been determined, bids are solicited from qualified vendors and a plan purchase is made.

Once the needs have been identified, there are a variety of methods that can be used in order to prioritize them. The needs can be prioritized by the impact they have on the company, the urgency of the need, the cost of not meeting the need, or how easily the need can be met. The most important needs should always be at the top of the list so that they can be addressed as quickly as possible.

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Get Individual Assessment Answers of (TLIR4010) Plan purchasing unit

In this section, we are describing some tasks. These are:

Assessment Task 1: Prepare invitations to offer

A formal invitation to offer is a type of letter used in business when one company wishes to invite another company to make a proposal for a possible transaction or partnership. This letter should be professional in tone and should outline the specific details of the offer, including the reason for making the offer, the proposed terms, and any other relevant information.

The letter should be sent to the person in charge of purchasing for that company. A formal invitation to offer is also referred to as an invitation to treat or simply an invitation.

1. Specifications for goods and services to be purchased are obtained from the relevant personnel and are clarified as required

Specifications for goods and services to be purchased are obtained from relevant departments within the organization. The purchasing department is responsible for the purchasing of all goods and services required by the organization.

The purchasing department is responsible for issuing purchase orders for all goods and services to be acquired by the organization. The purchase order must include a description of the items to be purchased, the quantity, and the price. It must also include any special requirements or specifications that are necessary for the items being purchased.

The purchasing department is also responsible for receiving and inspecting all goods received by the organization. They must verify that the items received match the items ordered and that they meet all of the specified requirements. If there are any discrepancies, the purchasing department must take appropriate action.

The purchasing department is also responsible for issuing payments for all goods and services that have been acquired by the organization. They must ensure that the payments are made in a timely manner and that they are in accordance with the terms of the purchase order.

2. Purchasing methods most appropriate to particular purchases are selected

There are different methods that can be used when purchasing goods and services depending on the type of good or service being purchased. The method must be appropriate to both what is being purchased and the available resources.

The most common types of purchasing include direct purchase, standardized purchase order, competitive bidding, selective tendering, and negotiated procurement.

Direct purchase is the simplest and most common type of purchasing. It is used when the purchase can be made from a single supplier and the quantity is known.

The standardized purchase order is used when the purchase is from multiple suppliers and the items are all the same or very similar. This method involves issuing a single purchase order that is then distributed to all of the suppliers.

Competitive bidding is used when the purchase is from multiple suppliers and the items are not all the same or very similar. This method involves issuing a number of purchase orders to different suppliers and then selecting the supplier that offers the best price and terms.

Selective tendering is used when the purchase is from a single supplier and the quantity is not known. This method involves issuing a number of purchase orders to different suppliers and then selecting the supplier that offers the best price and terms.

Negotiated procurement is used when the purchase is from a single supplier and the quantity is not known. This method involves negotiating a price and terms with the supplier. The supplier must be selected before negotiations begin.

3. Invitations to offer are prepared

An invitation to offer is prepared when the organization wishes to obtain goods or services by soliciting offers from suppliers. The organization may decide to solicit multiple offers if they want the best terms and prices for their purchase.

The invitations to offer must include a description of the items being purchased, including any special requirements or specifications that are necessary. They must also include the deadline for submitting offers and any other information that is necessary for potential suppliers.

The invitations to offer must be distributed to all potential suppliers who meet the required qualifications. The supplier selection process must be fair and open to all qualified suppliers.

4. Approval of invitations to offer is obtained

The organization must obtain approval from the appropriate authority before issuing invitations to offer. This approval is necessary to ensure that the process is done in a fair and open manner.

Assessment Task 2: Identify suppliers

 The organization must identify potential suppliers who will be able to provide the items that are needed. Different methods can be used to find and screen suppliers and each method may yield different results.

Some common ways of finding and screening new suppliers include:

Personal referrals – these may include friends or family members, or people who work in similar fields.

Industry and trade publications – these may include journals, online sites, and magazines.

Existing suppliers – these suppliers may be able to refer other suppliers that they know or trust.

Professional associations – these can provide access to directories of potential suppliers in an industry.

Online research – the Internet is full of information about companies and businesses. The supplier’s website, online reviews, and industry blogs can provide useful information.

Supplier associations – these organizations support suppliers and may be able to recommend other suppliers who might be able to work with the organization.

Suppliers’ sales representatives – when a new order is placed with a supplier, their sales representative may also be able to recommend other suppliers.

Once potential suppliers are identified, the organization must assess each supplier’s ability to meet or exceed all of the organization’s requirements. This should include an assessment of their experience in manufacturing or supplying items that are similar to what is needed by the organization. Their reputation and history in the industry and with existing customers must also be considered.

1. Organisational records are reviewed for potential suppliers

The organization must also review its own records to identify potential suppliers. This may include looking through old purchase orders, supplier contracts, and invoices. The organization’s accounting system can also be searched for information about specific suppliers or types of suppliers.

If the organization has an existing supplier that meets all of the requirements, they may wish to contact them and request a proposal. This will allow the supplier to provide their best terms and pricing for the organization’s purchase.

2. Sources of supply are identified

The organization must identify its functional requirements and technical specifications. They must then prioritize these requirements and select those that are most important. The organizational requirements should be prioritized so that the minimum acceptable requirements for a new supplier can be clearly defined.

Once the organization has identified the required functional and technical specifications, it can begin to search for potential suppliers who can provide the items that are needed.

The supplier selection process should begin with broad searches for specific types of suppliers. These can include third-party logistics (3PL) providers, pooling solutions, and service bureaus. Once these broad searches are narrowed down to a few potential suppliers, more detailed searches should be made to find relevant suppliers who meet all of the organization’s requirements.

Once potential suppliers have been identified, the organization must assess each supplier’s ability to meet or exceed all of the organization’s requirements. This should include an assessment of their experience in manufacturing or supplying items that are similar to what is needed by the organization. Their reputation and history in the industry and with existing customers must also be considered.

The organization should also review its own records to identify potential suppliers. This may include looking through old purchase orders, supplier contracts, and invoices. The organization’s accounting system can also be searched for information about specific suppliers or types of suppliers.

If the organization has an existing supplier that meets all of the requirements, they may wish to contact them and request a proposal. This will allow the supplier to provide their best terms and pricing for the organization’s purchase.

When suppliers have been found, the organization must compare each of them against the original requirements and expectations that were created during their market research. This includes comparing each supplier’s existing capabilities with what is needed by the organization.

3. Invitations are made to suppliers

Once all of the suppliers have been evaluated, the organization must determine which supplier(s) are best suited to meet their requirements. If multiple suppliers offer similar capabilities, the organization may wish to consider each supplier for different items in order to receive better pricing.

If one supplier is found to be significantly superior during the evaluation process, it may also be chosen to be the exclusive supplier for the organization.

Once the decision has been made, invitations must be sent to the chosen suppliers. These invitations should include all of the relevant information that the supplier will need in order to submit a proposal or quotation.

The organization should also provide a timeline for when they expect to receive proposals so that the supplier can know when to expect them. This timeline will allow the supplier to determine how much time is needed to submit their proposal so that it can be compared with others at the same time.

If multiple suppliers are selected, invitations should be sent out in batches where each supplier receives an opportunity for a certain number of items or dollar value within a specified time. This ensures that each supplier is given an equal chance for the same items or dollar value. Once the first batch of suppliers has returned their proposals, invitations should be sent out to other suppliers in different batches.

This allows all suppliers to compete equally while also giving them the opportunity to provide their best pricing relative to other suppliers who are bidding for similar items.

The supplier selection process begins with broad searches for specific types of suppliers (e.g., third-party logistics providers, pooling solutions, and service bureaus). Once these have been narrowed down to a few potential suppliers, more detailed searches should be made to find relevant suppliers who meet all of the organization’s requirements.

4. Sources of supply are evaluated against purchasing strategy requirements

Once suppliers have been identified, they must be evaluated against the organization’s requirements. This includes an evaluation of their experience in manufacturing or supplying items that are similar to what is needed by the organization. Their reputation and history in the industry and with existing customers must also be considered.

The organization should also review its own records to identify potential suppliers. This may include looking through old purchase orders, supplier contracts, and invoices. The organization’s accounting system can also be searched for information about specific suppliers or types of suppliers.

If the organization has an existing supplier that meets all of the requirements, they may wish to contact them and request a proposal. This will allow the supplier to provide their best pricing and terms without having to go through the full evaluation process.

Once the suppliers have been identified, the next step is to determine which ones are best suited to meet the organization’s needs. This involves comparing each supplier against the original requirements and expectations that were created during their market research. This includes comparing each supplier’s existing capabilities with what is needed by the organization.

The supplier’s experience with similar items, their capabilities relative to other suppliers who are bidding on the same items, and their price quotations will all be considered during this process. The pricing terms offered by each supplier may also be compared for this purpose.

If multiple suppliers have submitted proposals that meet all of the requirements at a reasonable price, the organization may wish to enter into a negotiation process with each supplier. This will allow them to obtain the best price and terms from all of the suppliers.

The organization should consider using a scoring or weighted system during this process if they have multiple items that need to be purchased. This allows for more complex comparisons of the proposals received from different suppliers.

Assessment Task 3: Issue invitations to offer

After the market research is complete, and the organization has a good understanding of what it needs, the next step is to issue invitations to offer. This will allow suppliers to provide their best pricing and terms so that they can be compared with others at the same time.

If multiple suppliers are selected, invitations should be sent out in batches. This allows all suppliers to compete equally while also giving them the opportunity to provide their best pricing relative to other suppliers who are bidding for similar items.

1. Invitations to offer are distributed

If the organization has an existing supplier that meets all of the requirements, they may wish to contact them and request a proposal. This will allow the supplier to provide their best pricing and terms without having to go through the full evaluation process.

Once the suppliers have been identified, the next step is to determine which ones are best suited to meet the organization’s needs. This involves comparing each supplier against the original requirements and expectations that were created during their market research. This includes comparing each supplier’s existing capabilities with what is needed by the organization.

The supplier’s experience with similar items, their capabilities relative to other suppliers who are bidding on the same items and their price quotations will all be considered during this process. The pricing terms offered by each supplier may also be compared for this purpose.

If multiple suppliers have submitted proposals that meet all of the requirements at a reasonable price, the organization may wish to enter into a negotiation process with each supplier. This will allow them to obtain the best price and terms from all of the suppliers.

The organization should consider using a scoring or weighted system during this process if they have multiple items that need to be purchased. This allows for more complex comparisons of the proposals received from different suppliers.

2. Briefings are conducted as required

The supplier selection process is not a one time event. It is important that the organization keeps track of the progress of each supplier and their ability to meet the requirements. This includes conducting briefings on a regular basis to update them on the organization’s needs and how they are changing.

It is also important that the organization regularly reviews the supplier’s performance to determine if they are still meeting the requirements. If they are not, it may be time to conduct another supplier selection process.

Negotiating price and terms with suppliers can be complex as there is a lot of information that must be considered. This includes the organization’s existing contracts with other suppliers, their level of bargaining power relative to each supplier and the current market conditions.

The organization must also be aware of local, state and federal laws that may restrict their ability to negotiate certain terms with suppliers. These restrictions can vary depending on the type of product being sourced and the location of the supplier.

It is important for the organization to have a clear understanding of what they are able to negotiate with each supplier. This will allow them to get the best price and terms possible for the products they are purchasing.

3. Clarification of issues arising is made with suppliers in accordance with purchasing strategies

There are many rules and regulations related to purchasing products. The organization’s legal department should be consulted if there are issues during the supplier selection process or it is necessary to enter into negotiations with suppliers.

The organization must also ensure that they have an appropriate level of authority in order to conduct the supplier selection process and negotiate contracts with each supplier. This includes the authority to make decisions on behalf of the organization and to commit funds for the purchase of products.

If there are any questions or issues that arise during the supplier selection process, it is important to clarify these with the suppliers as soon as possible. This will help ensure that the process continues smoothly and that no misunderstandings occur.

It is important for the organization to obtain legal and purchasing approval before entering into contracts with suppliers. This will help them reduce their risk and obtain the best terms possible. It can also ensure that expensive mistakes do not occur after a contract has been signed.

Assessment Task 4: Prepare recommendations to purchase

After the supplier selection process is complete, the organization must decide if they wish to purchase their products from one or more of the suppliers. If so, negotiations must take place to determine price and terms.

If no suppliers are able to meet all of the requirements at an acceptable price, it may be necessary to go back through the supplier selection process and try again.

When no suppliers are able to meet the organization’s requirements, they must look for alternate products that can be sourced or use an in-house production process. The terms and conditions of any existing contracts with suppliers should also be reviewed to see if there are opportunities to get better prices or terms on these agreements.

If no new suppliers are found, the organization may need to start using an in-house production process. This can be time consuming and require a significant amount of capital. The organization should plan ahead to ensure that they have the capacity available for this, or it could impact their ability to meet organizational needs on time or cause delays in new product introductions.

1. Offer documents are received from suppliers

After the supplier selection process is complete, the organization will likely receive offer documents from one or more of the suppliers. These offer documents will outline the price and terms that the supplier is willing to provide for the products being purchased.

The organization should carefully review these offer documents to determine if they are acceptable. If they are not, the organization can continue to negotiate with the supplier or move on to another supplier. If the offer documents are acceptable, the organization can sign a contract with the supplier.

It is important to note that the offer documents are not always final and may still be subject to negotiation. The organization should ensure that they are clear on what is included in the offer documents and what is not. If the offer documents are unclear, it may be necessary to contact the supplier for clarification before signing a contract or moving forward with negotiations.

2. Offer documents are assessed against purchasing strategy requirements

Once the offer documents have been received, the organization must compare them against their purchasing strategy requirements. If the offer documents do not meet all of the requirements, the organization can continue to negotiate with the supplier or move on to another supplier.

If the offer documents meet all of the requirements, the organization can sign a contract with the supplier. It is important to note that the offer documents are not always final and may still be subject to negotiation. The organization should ensure that they are clear on what is included in the offer documents and what is not. If the offer documents are unclear, it may be necessary to contact the supplier for clarification before signing a contract or moving forward with negotiations.

3. Further information is sought from suppliers as required

If the offer documents do not meet all of the requirements, or any changes are made to the purchasing strategy at a later date, further information must be sought from the supplier. This can be done through email, phone calls, attending meetings with sales representatives and so on.

The organization should ensure that they have a good understanding of what is needed from the supplier and what is not. This will help to avoid any misunderstandings and ensure that the supplier understands what is expected from them.

If any changes are made to the purchasing strategy, it may be necessary to go through the supplier selection process again to find suppliers that can meet the new requirements.

4. Specialist expertise is obtained to assist with evaluation as required

In some cases, it may be necessary to obtain specialist expertise in order to assist with the evaluation of offer documents. This could be in the form of a consultant or an internal team member.

The organization should ensure that they have the right resources available to help with the evaluation process. This will help to ensure that the process is carried out efficiently and effectively.

5. Offers are evaluated against purchasing strategy requirements

Once the offer documents have been compared against the purchasing strategy requirements, they are evaluated to determine which supplier provides the best value for money.

It is important that all of the information available is used when evaluating offer documents as this gives a more accurate result. This will help ensure that supplier performance is optimal and that the organization obtains a good return on investment.

6. Shortlists of suppliers who have made offers and who meet purchasing criteria are prepared

Once the offers have been evaluated, a shortlist of suppliers who have made offers and who meet the purchasing criteria is prepared. This list can be used as a guide when negotiating with the supplier or when selecting a supplier to sign a contract with.

The organization should make sure that they are aware of all of the criteria that must be met in order for a supplier to be included on the shortlist. This will help to ensure that only qualified suppliers are considered.

7. Preferred offers are selected

The organization may select a preferred offer from the shortlist of suppliers. This offer is then used as the basis for negotiations.

The organization should ensure that they are clear on what is included in the preferred offer and what is not. If there are any areas that are not covered by the preferred offer, the organization can negotiate with the supplier to try and reach an agreement.

If the organization is not happy with the terms of the preferred offer, they can choose to move on to the next supplier on the shortlist.

8. Recommendations about preferred offers are made for approval by relevant personnel

Once the preferred offers have been selected, the recommendations about these offers are made for approval by the relevant personnel. This will usually include members of the executive team or senior management.

The organization should ensure that the appropriate people are involved in the decision-making process so that they can make an informed decision about which supplier to select.

9. Approval is obtained for recommended offers

The relevant person or people provide the approval for the recommended offers. If they do not agree with the recommendations, they may require changes to be made before giving their endorsement.

Once the relevant personnel have provided their approval, negotiations can begin with the chosen supplier. The contract should be signed as soon as possible so that suppliers are aware of what is expected of them and when they need to deliver by.

Supplier Evaluation is a critical part of the buying cycle. In order to ensure effective procurement, it’s important that an organization effectively evaluates the requests for purchase from suppliers against key business requirements. This will help identify which supplier can provide the best value for money and reduce the risk associated with making a purchase.

An organization’s purchasing strategy is the foundation for future supplier evaluations. The purchasing strategy should define what an organization wants to achieve through procurement, which suppliers can help them do this and how they will go about buying the required products or services. Once these key components have been identified, an organization can begin developing their purchasing strategy.

An offer from a supplier takes the form of a proposal which outlines what they believe will meet an organization’s needs. An offer may be for goods, services or both and often includes commitment to deliverables such as timeframes and project milestones.

Offers should only be considered if they align with the purchasing strategy. This means that each element in the offer should meet the requirements that have been set out in the purchasing strategy. If an offer does not meet all of the criteria, it should be rejected.

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