McMaster Innovation Park rolling out digital procurement
Digital procurement through the bids&tenders platform is expected to modernize the research centre's procurement effort
McMaster Innovation Park (MIP) is overhauling its procurement processes.
Implementing the bids&tenders digital procurement platform to improve its purchasing efficiencies, the Hamilton, Ont.-based commercialization research centre says it is optimizing its redevelopment for its community of nearly 100 companies.
Staff will use the bids&tenders platform to procure the critical goods and services needed for the park’s redevelopment.
“Transitioning to digital procurement through bids&tenders is representative of our rate of growth and the magnitude of our upcoming projects,” said Frances Grabowski, MIP Director, project management office, in a prepared statement. “We’re excited to be expanding our procurement processes to a wider audience and providing bidders with an opportunity to be a part of our vision and brave future.”
By automating administrative tasks and providing advanced digital tools for electronic bid submission, analysis, evaluations and contract management, bids&tenders can reduce typical procurement cycles by 35%, according to MIP.
Suppliers interested in doing business with MIP can create an account on the organization’s bids&tenders portal to receive automatic notifications on relevant new opportunities, review those opportunities, and submit responses to requests for information (RFI), requests for quotations (RFQ), requests for proposals (RFP) and requests for tenders (RFT).