Tenders, Tendering and Demand Planning Analytics Approaches
Tenders, Tendering and Demand Planning Analytics Challenges & Opportunities
Globalization for businesses is a requirement and for many a duty. A Global Business's path to success requires planning and contract forecasting utilizing internal data and external market demand from Tenders. Businesses understanding and use of external global market demand from Tenders continues to be a challenge to forecast, prioritize, plan and effectively resource to win. TenderCast provides the necessary resources for a business' success.
Global Businesses require financial institution investment to make globalization possible. Financial Institution's Trade Finance, Financial Crime / Anti-Money Laundering and Compliance organization programs require governance of the investment and are required to adhere to government regulations. One of the simplest, yet historically elusive until now, guiding principles and requirements of Trade Finance is to validate if the goods and services are of fair market value.
Tenders, Tendering and Demand Planning Analytics Guiding Principle: Fair Market Value and Strategic Intent
Global Business's Trade Compliance Governance Programs in centralized and decentralized country affiliates have a requirement to assure goods and services are of fair market value.
Global Business' can utilize the understanding of fair market value goods and service to be more competitive, to be more strategic and to resource accordingly.
Analytics for Living's Global Tenders Syndicated Demand Planning Data and Tools
Analytics for Living's Global Tenders Syndicated Demand Planning Data and Tool provide a solution for businesses and Financial Institutions at the lowest level of granularity, sub-CPV (common procurement vocabulary).
Analytics for Living's syndicated Global Tenders data provides the external market demand and the fair market value at the sub-CPV granularity for businesses and financial institutions.
From the moment a tender is published, Analytics for Living's syndicated data at the sub-CPV granularity is available.
Analytics for Living's TenderCast
Analytics for Living's TenderCast provides insight at the sub-CPV granularity to understand when the Tender is anticipated including the estimated volume and value.
Analytics for Living enables TenderCast using their proprietary patent pending artificial intelligence machine learning and natural language processing normative database cloud ecosystem.
Analytics for Living's TenderCast is provided to businesses and financial institutions as a data set or visualization platform; TenderCast's syndicated visualization utilizes google cloud and Microsoft's PowerBI.
Analytics for Living's TenderCast provide businesses and financial institutions a solution to meet the challenge of external demand planning and fair market value at the sub-CPV granularity.
Analytics for Living's TenderCast: Normative Databases
Analytics for Living's TenderCast Services offer a tool for business and financial institutions to develop their own custom sub-CPV granularity using TenderCast's Normative Database Framework as the foundation within the corporate's environment. It is hosted on their behalf or the data set with training provided to enable organizations build their own TenderCast by inputting their data and value.
Analytics for Living's TenderCast: Awards
Analytics for Living's TenderCast: Awards is an available upgrade which builds on the foundational TenderCast to enable businesses to determine the probability to be awarded a tender at planned volume and value.
Businesses and financial institutions' path to see what success looks like begins with a TenderCast and TenderCast: Awards demonstration of validated use cases using historical tenders.
Analytics for Living's TenderCast: MDM
Analytics for Living recognizes the challenges for businesses and financial institutions to characterize products using the common procurement vocabulary (CPV). Although business and financial institutions easily maintain and understand their products CPV characterization managing the ongoing publication of products in tenders becomes a daunting task. A tender is published with a product name or type, yet the CPV characterization may be incorrect or omitted. To meet this need a master data management approach is required to be developed, maintained and refreshed upon tender publications which in some countries is a daily management effort.
Analytics for Living has developed a method to develop MDM (Master Data Management) as part of the TenderCast processing. Analytics for Living's TenderCast MDM offering utilizes a syndicated and for some clients a custom developed master data management dictionary to characterize products as well as machine learning to improve accuracy, efficiency and speed. Business and Financial Institutions can utilize TenderCast MDM as an added offering to support the ongoing management of tenders and incorporate the learning to enable a more accurate forecast and enable a stronger resource development plan.
Analytics for Living's TenderCast: Contacts
Business and Financial Institutions always have the need to understand the organization publishing the tender as well as the contact to respond to and schedule a request for information. Many times, Tenders are published requiring a response within a short period of time of weeks or months. Businesses and institutions have struggled with first the learning of a tender and then on top of that understanding to whom questions can be asked.
Analytics for Living has developed TenderCast: Contact which provides both the organization and the contact for the tender including the publication documents or online links. One of the important descriptions is if the tender accepts international proposals or is only domestic; TenderCast Contact contains both the contact and if the tender accepts international proposals.
Analytics for Living's TenderCast: Query
Businesses and Financial Institutions for almost all tenders have a need to query the database of tenders for specific products, categories or phrases of tenders for market research and scope. To meet the need to explore, build use cases and better understand the details of Tenders, Analytics for Living developed TenderCast: Query.
TenderCast Query is available for customization to enable business and financial institutions to search the Tender database for specific keywords and phrases. Analytics for Living employed machine learning natural language processing tools to enable on demand real time queries across a large dataset quickly.
TenderCast Query supports Business and Financial institutions to perform text and phrase mining to see results instantaneously. Historically, business and financial institutions needed to build, export and download text search tools which took hours. With TenderCast: Query a business and financial institution can quickly explore a hypothesis or exploration using a user interface query tool which provides immediate results.
Analytics for Living's TenderCast: Volume, Value and Price
Business's and Financial Institution's global contracting through Tenders requires a solid understanding demand as to when the bid opportunity presents, however, even as important are the understanding of value, volume and price. Published Tenders with a transparent reference for value, volume and price are non-existent and therefore businesses and financial institutions must develop a solution to estimate independently and in real time. Understanding Tender value, volume and price estimation requires data, master data management and ability to input historical understanding to then develop a proposal which could achieve an award.
Analytics for Living's TenderCast: Volume, Value and Price tools enable clients to utilize historically benchmarked data in real time calibrated for CPV, GDP and population to better develop an award winning estimate and proposal.
Analytics for Living's TenderCast Volume, Value and Price tool enables clients to develop a data set for internal system analysis or a closed ecosystem view to input data and develop scenarios to develop a proposal and simulate anticipated proposals by competitors.
For Businesses, given Tender award data is not published widely and no normative database for volume, value and price exists. Analytics for Living developed its machine learning TenderCast tools to support the need to enable clients a competitive advantage.
Financial Institutions, in kind, can utilize the Tender Cast Volume, Value and Price solution to better understand fair market value to support the contracting and funding for businesses.