Challenges in RFPs Management
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.
A Solution to Optimize RFP Management
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 be utilized to rank products. Lascom CPG provides tools to structure tasks and dispatch them to the various stakeholders.
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.
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