Tender notification

rdf:langString Tender notification

rdf:langString A tender notification is the publication and circulation of procurement opportunities by the procuring entity in various media like: Newspapers, purchasers's own website and government tender bulletin etc. The main objective of wider publicity is to make these opportunities available to a wider supplier community, increase the competition and thus making the procurement process efficient and transparent. In pre-internet era the tenders were published only in the print media but the internet has made it possible to publish the tenders online and make these opportunities available to suppliers globally, on a click of mouse. Though some countries have moved completely to online publication of tender notification, but still there are many countries which are publishing tenders in print media as well. It depends upon the commitment and preparedness of the leadership to make the public procurement efficient and corruption free. The World Bank started bench-marking economies on the basis of legal and regulatory system, which can affect the ability of the suppliers to participate in public procurement process. The latest report from The World Bank - Bench-marking Public Procurement, 2017 assesses 180 economies around the world. Availability of tender notification on internet gave the birth to tender aggregators. The tender aggregation industry can broadly be divided in two types. One those who collects, collates and process the information from within the country and for the consumption of the suppliers from the same country. The other type is those who collect the tender notification from across the globe and make it available to all suppliers including from their home country. A tender aggregator addresses various challenges like:non availability of data in a structured format, multiple languages and terminologies etc. By making the tender notification information available to a wider supplier community, the tender aggregator plays an important role in making Public Procurement efficient and transparent, thus helping procurement entities spend tax payers' money judiciously.