Assignment Outline two methods for evaluating and forecasting vendor and technology trends

Two methods that have been used by the business for evaluating and also forecasting the vendor and technology trends are:

·         Direct Method

The direct method is also known as the “Bottom-up method,” in which every single department, each division, every single unit, as well as each branch is authorized to create the forecasting by and for itself. Then, all of the forecastings will be collected, then this collection will be the foundation to make forecasting for the organization as a complete one.

·         Indirect Method

The indirect method is also accepted as the “Top down Management” of the forecasting itself. In this method, all the forecasting is created for a complete organization and made by the top-level management. Then, right after making appraisals for the complete business in the organization, then the forecasts will be made for various departments in the organization, then follow with the forecasting for various divisions and units of a single department (Economicsdiscussion.net, 2019).

2.      Discuss three typical requirements for a contract for ICT products or services.

Three typical requirements for a contract for ICT products or services are:

·         Request the accessibility capacity of the vendor

This simply means that the organization will request the vendor to provide a statement regarding their capacity to supply or else to progress accessible ICT

·         Request the vendor to provide some pieces of evidence for the statement above

·         Ask the records of contracts that have been carried out by the vendor, along with the references

3.      Describe a typical process for purchasing ICT equipment and services.

A typical process for purchasing ICT equipment and services is divided into three stages which are (LINMAN, 2012):

·         Requirements setting

In this stage, the buyer will review the investment business case in IT and also measuring the business validations, provisions, along with the approvals to initiate the purchasing process of ICT equipment and services eventually.

·         Acquisition

The next stage is acquisition which refers to a process that engages the IT procurement managers in appraising and choosing accurate vendors along with signing up the IT procurement contract designed for the fundamental services.

·         Contract implementation

This stage is embattled at managing and also organizing the entire activities related to the realization of ICT procurement contract requirments.

4.      Describe a typical process for negotiating extensive client support contracts

A typical process for negotiating the extensive client support contracts can be divided in three essential stages such as (Business.qld.gov.au, 2019):

·         Planning the negotiation

In the stage of planning the negotiation, there are some important points that needed to be pursued which are:

o   Set up the objectives properly

o   Measure things that needed to be negotiated

o   Conduct research regarding the other party

·         Engaging with another party throughout the negotiation which can be done by:

o   Introduce the organization and articulate the plan

o   Present a proposal

o   Discuss the ideas and concepts

o   Deliberate accurate compromises

o   Propose alternative proposals

·         Closing the negotiation

o   Negotiating the proposals from both parties

o   Articulate the agreements

o   Make a decision

5.       Explain the two types of mandatory product standards.

The main purpose of a mandatory product standard is to create specific safety or information structures on products obligatory meant for the legal supply of the product into the specific market. There are two categories of mandatory product standards which are (Business.gov.au, 2019):

·        Safety standards in which the products must obey with performance procedures, arrangement, substances, production or processing methods, scheme, structure, and also the packaging

·         Information standards which are actually the procedures around information that should be assumed to the customers at the time they obtaining specified products

References of Develop Contracts and Manage Contracted Performance

Business.gov.au. (2019, October 15 ). Product safety rules and standards. Retrieved from https://www.business.gov.au/Products-and-services/Product-labelling/Product-safety-rules-and-standards

Business.qld.gov.au. (2019). The negotiation process. Retrieved from https://www.business.qld.gov.au/running-business/marketing-sales/managing-relationships/negotiating/process

Economicsdiscussion.net. (2019). Techniques and Methods of Business Forecasting. Retrieved from http://www.economicsdiscussion.net/business-forecasting/techniques-and-methods-of-business-forecasting/31478

Guth, S. (2007). The Vendor Management Office: Unleashing the Power of Strategic Sourcing. Lulu.com.

LINMAN, D. (2012, MARCH 28). What is IT Procurement Process and How to Manage It? Retrieved from https://mymanagementguide.com/what-is-it-procurement-managing-the-it-procurement-process