You can have a better chance of receiving quality RFP responses and save time by preventing these common RFP mistakes.
While a thorough and well-prepared request for proposal (RFP) is always welcome and appreciated by supply management practitioners, a poor RFP is an unwanted burden that takes up valuable time, money and energy. It often leads to missed internal clients’ expectations, resulting in numerous questions and unsatisfactory results.
There are seven common mistakes that can increase your chances of receiving poor responses to your RFP. More important, these mistakes can prevent you from achieving the objective of the RFP. Let’s examine these mistakes here.
1) Ignoring the Importance of RFIs
In the rush to move things along, the request for information (RFI) is often overlooked in the RFP process. As the name implies, an RFI is a tool for collecting information from suppliers about the companies themselves, and their products and services. RFIs are useful when you’re faced with several suppliers you’re unfamiliar with, when you want to benchmark the marketplace for products and services (including budgetary information), and when you’ve identified too many potential suppliers and need to narrow the field...
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The web-based RFP Builder automatically populates our market intelligence into easy-to-use templates to help you save time
Webinar: Improve Your RFP Process by Avoiding These 5 Pitfalls
Let’s get back to the basics with 4 Degrees North’s Phil Bode, an expert on how to craft great RFPs. He’ll talk about 5 common pitfalls that are tripping up your process and offer simple, actionable solutions to get you back on track.
Avoid This Common RFP Mistake to Enjoy Better Supplier Engagement
Suppliers often spend a significant amount of time vetting a potential customer. To avoid wasting time, buyers should take a similar approach when evaluating potential vendors. There are two easy ways to quickly qualify a supplier’s real interest in your project – read on to learn what they are.
The Problem with RFPs
The fundamental problem with RFPs is the lack of a process and the infrastructure needed to house all of the necessary information. However, help is on the way with the ProcurementIQ RFP Builder, a web-based tool proven to make RFP creation and management a whole lot easier.