Challenges in RFPs
Distributing, collecting and analyzing RFPs (request for proposal) are essential aspects of strategic sourcing, tender management and negotiation. Traditional methods of facilitating this process have been time consuming and labor intensive. Typically, the RFP process has involved costly and repetitive steps, paper intensive procedures and burdensome data collection and analysis techniques. While informed sourcing decisions require procurement professionals to survey and assess data from multiple sources. These tender management specialists often are forced to cut this process short when administrative constraints inhibit them from collecting and analyzing this data in a timely manner.
Once RFPs are granted and production launched, another challenge is also to ensure an effective specification management. Specification consistency is key all along the product lifecycle. From RFP to first production and then to changes, collaboration between suppliers and retailers must handle specification management accurately. Impacts while product specifications changes are either too time consuming for retailers when changes are marginal or not checked appropriately in case of a major change. Impact management should also be considered in specification management and request for proposals.
Optimize RFP management
To streamline RFP management processes project screening is essential. Therefore, stage-gates have to be timely managed with Gantt charts while scorecarding needs to utilize to rank items. Lascom CPG provides tools to structure tasks and dispatch them to the various stakeholders. Top management expectations are to monitor activities to spot potential issues and drill down into details to fix the problem.
Tender management software
Businesses using advanced sourcing strategies such as tender management software are positively impacting product development cycles and building stronger supplier relationships by making better, more informed decisions. They are also driving innovation and are saving more money than their competitors.
On average, these businesses:
An RFP followed by a bidding process involves a lot of data such as marketing brief, product specifications, sample reviews, analyses, suppliers’ certificates, etc. As data are divided in elementary parts, it is easier to dispatch, generate or edit any kind of information within the workflows. An organized structure facilitates business reviews while remaining coordinated through workflow. They are also useful to capture metrics contributing to a proper RFP management. Eventually, business process management supports massive parallel tasking to cope with multiple suppliers’ reactivity.
A portal technology
Optimizing RFP process and collaboration with suppliers often means benefiting from a portal with dedicated access to securely input information about proposals, quotation or product specifications. Tight seal front office to avoid information leaks from a supplier to another is key. A back office repository is also required for retailers to compare suppliers involved in the process.
To avoid the pain to compare manually different bids, businesses require tools to:
- Screen and comment information easily
- Manage loopbacks with suppliers with a full audit trail
- Compare ( submission 1 VS submission 2 ; supplier bid 1 VS supplier bid 2)
- Approve individually business topics to unlock the overall approval. Lascom offers to check each chapter. Everyone in charge of a chapter/task is able to approve it separately considering skills needed. A final approval with electonic signature secures the entire process.
Digital RFP exchange
Access our guides and whitepapers for your industry :
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