Tendering Techniques for the Hotel Industry

Purchasing refers to the process of ordering and receiving goods and services. It is a part of the bigger procurement process. Generally, purchasing refers to the process involved in ordering goods such as request, approval and creation of a purchase order record and ultimately the receipt of goods. Tendering is part of the procurement process that can create a win-win solution for the purchaser and supplier itself. Before deciding to bid for a tender, one must have a strategy in place, which defines how one approaches a bid, as well as options for what one will and will not agree to and the checkpoints to ensure that resources in writing the bid are used effectively.

Tendering is the process by which bids are invited from interested contractors to carry out specific packages of construction work or supplying of materials. The two most commonly used methods of tendering are single-stage selective tendering or two-stage selective tendering.