Types of Procurement
Purchasing method generally used for small orders under a certain dollar threshold. A request is sent to suppliers along with a description of the commodity or services.
What is Request for Quotations (RFQ)
This is the analytical process for optimizing a supply base while reducing total cost and improving delivery.
What is Strategic Sourcing?
SLA
Service Level Agreement
What Minnesota Statue defines the programs and solutions that Sourcewell may provide to support government, education, and nonprofit entities?
What is Minnesota State Statute § 123A.21
A process requested from one proposer or short-listed proposers for their best price(s) for a specific solicitation prior to determining a contract award.
What is Best and Final Offer (BAFO)
This analysis effort focuses on the function of systems, products, and procedures to improve them.
What is value analysis?
TCO
Total Cost of Ownership
Which two boards fall under the CEO's responsibility?
What is Sourcewell Board and Board of Trustees
A non-binding method whereby a jurisdiction publishes via newspaper, internet, or direct mail its need for input from interested parties for an upcoming solicitation.
What is a Request for Information (RFI)
This refers to the risk of a project evaluation going wrong, potentially due to factors like internal resistance or political influences.
What is proposal risk?
JIT
Just in Time Delivery
What are Sourcewell's two main goals for 2035?
Sourcewell aim to reach $1 billion in annual revenue and to partner locally to create the conditions that lead to all regional third graders reading at grade level or better.
A maximum dollar value or a fixed-term construction contract resulting from a competitively bid solicitation in which the contractor will perform according to separate job orders issued during the term of the contract
What is Job Order Contracting (JOC)
This is the stage in the procurement process where an organization negotiates the final terms with a chosen supplier.
contract negotiation?
BATNA
Best Alternative to Negotiated Agreement
What does Sourcewell’s Hub of Solutions include?
Regional Solutions
Enterprise Solutions
Organizational Strategies