The market approach policy covers mandatory requirements for market approach, critical incidents, and evaluation, negotiation and selection.
Market approach involves informing the potential supply market about your requirements. Some common methods of market approach are quotations, open tendering, multi-stage tendering and limited tendering.
Market approach can involve forming a relationship with the market to identify further benefits to all parties and drive innovation and continuous improvement.
You must treat suppliers fairly, giving them access to similar information and applying high standards of probity and confidentiality in all of your dealings.
The critical incident policy allows for an alternative procurement process to operate during an emergency, crisis or disaster, including any subsequent relief effort.
Evaluation, negotiation and selection
The stages of evaluation, negotiation and selection are complementary processes and involve identifying the supplier(s) best able to satisfy an organisation’s procurement requirements.
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