🎯As a procurement specialist, finding suitable suppliers is crucial. However, finding the perfect fit is challenging. By leveraging CPV (Common Procurement Vocabulary) codes and keywords, you can streamline your search process, identify ideal suppliers and make informed decisions.
This blog post will walk you through understanding CPV codes and explain why keywords are essential for finding appropriate suppliers. We will also demonstrate how to integrate these tools into your search process and provide tips to optimize their use. Lastly, we’ll guide you in evaluating potential suppliers based on their contracting history.
🇪🇺 CPV codes are used in public procurement to standardize product and service classification. They are typically used to define what a tender is about - purchasing video cameras, for example.
By selecting accurate CPVs for various procurements, there’s a higher chance that supplier offerings will be noticed by contracting authorities - assuming that the supplier subscribes to a service that helps them identify relevant procurement opportunities.
However, CPV codes can also be used for another, not so obvious application - to find suitable suppliers, for example, when engaging in market consultations or low-value purchasing, by analyzing the tendering history of suppliers.
In other words, a supplier that has previously performed similar contracts is more likely to be of interest to buyers of the same product or service.
Contracting authorities can choose how narrowly to search for suppliers, using CPV code structure.
Buyers can then decide - whether to find many suppliers “doing engineering services”, which is a broad search, or find only several targeted suppliers that do only “civil engineering consultancy services”, which is a narrow search.
Sorsera tools streamline this process to help find the most suitable suppliers based on their past public procurement data.
While CPV codes are essential for supplier identification, combining them with carefully chosen keywords can help you find suppliers better. Keywords help refine your search results by highlighting specific terms related to your procurement project.
They also allow you to find specialized suppliers more effectively.
💻 Trial and error: The best way to understand what works for you is by trying various search methods and seeing what works. Try out example searches on our market analysis tool.
🔎 Research relevant codes: Research appropriate CPV codes for your project, for example, by analyzing the codes used by other buyers with similar contracts.
🔑 Identify relevant keywords: Identify the most important keywords related to your project or industry.
📝 Use synonyms: Consider different variations and synonyms of core keywords to cover all possible search queries.
🏆 Train your team: Educate all members involved in procurement on how to use CPV codes properly.
When analyzing a supplier, you can see the contracts they have performed in a particular CPV group. You can see their history, for example, on our market analysis tool, and request supplier reviews from their clients.
Additionally, explore the competitors for a particular supplier in a CPV group and analyze who their biggest clients are. Big contracts with reputable buyers indicate a strong performance history, while smaller contracts can indicate flexibility. Use other tools, such as Google searches and their websites to get a better understanding of a particular supplier.
The combination of CPV codes and keyword optimization is a powerful tool for procurement professionals looking to streamline their supplier search processes. By implementing these strategies, organizations can improve their chances of finding suitable suppliers in the pre-tender and procurement stages while reducing costs and increasing overall efficiency.
Ready to streamline your supplier search with CPV codes and keywords?
👉 Check out our market analysis tool designed for finding suitable suppliers!
💬 You can also schedule a one-on-one consultation with our support team for personalized assistance.