One of the most critical decisions in procurement and bid management is determining whether to bid or not. This decision, often termed 'Bid/No-Bid', can significantly impact your resources and future opportunities. So, how do you decide?

First, assess the alignment with your company’s capabilities and goals. Does this tender align with your strengths? Can you deliver what is asked, not just in terms of product or service, but also compliance with regulations and standards?

Next, consider the competition. Who else is likely to bid? What are your chances of winning against them? Understanding the competitive landscape is crucial in making an informed decision.

Also, evaluate the potential return on investment. Winning a public sector contract can be lucrative, but the process is resource intensive. Make sure the potential gains outweigh the costs involved in preparing the bid.
Finally, don’t forget to review past experiences. Have you bid for similar contracts before? What were the outcomes and learnings? This historical perspective can be invaluable in guiding your decision.

In short, being 'Bid Fit' means being selective and strategic about the opportunities you pursue. It’s about focusing your efforts where they have the highest chance of success and align with your business objectives