RFQ & RFP Management

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.

Industries

Lascom solution to optimize RFP management and product specification

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:

  • Identify savings of 11.9% per RFP
  • Realize savings of 9.4% per RFP (savings that are actually implemented and “realized”)
  • Utilize a formal strategic sourcing process such as a tender management software on 43% of their total spend
  • Employ advanced sourcing strategies on 15 to 40% of their tender management initiatives

Lascom solution benefits in RFP management and product specification

RFP management and product specification

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

rfp management

Success Stories

  • Bolthouse Farms

    Bolthouse Farms

    Bolthouse Farms is North America’s market share leader in growing and distributing fresh-cut carrots and offers ‘all things carrot’, including... Read more »
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  • Maple Lodge

    Maple Lodge

    Maple Lodge Farms increases productivity, shortens product development cycles, and reduces risk with Lascom CPG Solution Maple Lodge Farms (MLF)... Read more »
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  • Poultry leader

    Poultry leader

    France’s largest chicken products and chicken based products processor and distributor, employs more than 16 000 people all around the... Read more »
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  • Artenay Bars

    Artenay Bars

    Artenay Bars is the leading French manufacturer of cereal bars and muesli in the private label market. The company has an... Read more »
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  • Yoplait

    Yoplait

    Lascom solution helps YOPLAIT achieve faster product development times Dairy manufacturer Yoplait selects Lascom's CPG Solution to reduce product development... Read more »
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  • LACTALIS

    LACTALIS

    To meet new food regulations and increase productivity CPG solution from Lascom helps Lactalis meet new food regulations and increase... Read more »
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  • Bolthouse Farms
  • Maple Lodge
  • Poultry leader
  • Artenay Bars
  • Yoplait
  • LACTALIS

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