Suppliers and COI procurement
The term "Procurement" refers to the process by which services, goods and works are acquired from third parties.
This is a lifecycle process, from the initial purchase concept through to the end of life of the purchased asset or service.
In COI, the full procurement cycle for any individual contract includes the following:
- Defining the need/producing the specification
- Advertising the requirement (if applicable)
- Selecting suppliers to bid (from holders of framework agreements or otherwise as appropriate ensuring that competition takes place)
- Issuing invitations to tender/pitch
- Evaluation and comparing tender proposals/pitches
- Selection of winning tender
- Award of contract
- Managing supplier's performance/ensuring delivery to time and specification post delivery evaluation and lessons for the future
Procurement also includes the award of framework agreements to properly selected suppliers in areas where it is appropriate to have them. The majority of COI's spend with external contractors is via frameworks.
