What is MEAT?
MEAT was introduced by the European parliament in 2004 as part of the public procurement rules. These are known as the public contract regulations in the UK. MEAT stands for the Most Advantageously Economic Tender. It is what most buyers use during their selection process when deciding on the right supplier for them. This shows that it isn’t just about offering the lowest price available but offering the best economic value for your services.
How do you do become the Most Advantageous Economic Tender?
One of the main ways you can become the MEAT is through quality. It depends on what your tender requires of you, but this could be the best quality raw materials, quality customer service, and reliability of your products. This must-have better economic value than your competitors with a competitive pricing structure.
Each tender will be different as they will have different requirements of what they need. A more standardized product will require a cheaper price whereas a complex product may require a more expensive pricing structure.
Life cycle costing
One way this is measurable is through life cycle costing which measures costing from the beginning to the end of the product’s life cycle. This measures R&D costs, raw materials, maintenance, and end of life costs. This gives a better understanding of the costing rather than just the initial price, giving you a more informed decision on the economic value.
Best Price Quality Ratio is another way to measure the best deal for the buyer. This assesses the deal on the price/cost element plus other criteria such as qualitative, environmental, and social aspects. Qualitative examples include technical merit, functional characteristics, and accessibility. Environmental aspects include CSR and the use of infinite resources such as plastic. Social aspects include after-sales services, technical assistance, and delivery conditions.
Other ways you can be the MEAT:
The MEAT Process
Soft market testing
Soft market testing is the process where the buyer starts their procurement process and creates the documentation needed for suppliers to apply. Suppliers would then offer information about their procurement efforts regarding an industry, service, or good making it easier for the buyer in a specific sector.
Documents are released
The documents are released through an electronic portal. In England, it’s run by a contracts finder. In this document, the buyer will disclose information such as what they need and how they will acquire it.
After the documents are released, you will have to start developing your bid. Every tender is different meaning that the size of the document that you send will never be the same. This document must outline how you’re going to do something with detailed examples. A simple PEE structure is perfect to answer each question as you can give your point, an example, and back it up with previous experience.
Evaluation and award
The buyer will assess each bid and subsequently award the bid to the highest-scoring supplier. If you have won, then congratulations but if not then you need to reassess your approach. This means analysing your feedback and altering your decision-making process to have a better attempt to win the next suitable tender.
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