General posts and articles which do not fit anywhere else.

RFQ Tips

Part 1

The RFQ or Request for Quotation is also referred to as a Request for Qualifications. Both procurement forms are used by Buyers when they approach Vendors for goods or services in the Quotation instance and in the Qualifications scenario they are looking for specifics to determine whether you as the Supplier might qualify to complete a requirement the Buyer has identified.

The RFQ for Qualifications might be to determine whether you are able to complete special artwork for a public environment like say a public library for example. In this instance, the Buyer might offer the Supplier a small stipend like $500-1000 to create some form of facsimile of what they would provide as artwork for this public space. From the samples of artwork provided by potential bidders the Buyer would then consider an award.

In general, when talking RFQ’s most vendors would assume you are looking for a price quotation for either goods or services. A RFQ is a great way to get the current pulse or cost in the marketplace for the item(s) you seek. By issuing a RFQ, the vendor understands they have a shot at winning your purchase order or supply contract so they are often motivated to provide the best terms in an effort to gain your business. Not a guarantee however it is an assumption…read on. (more…)

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How to improve your RFP – Part 2

Part 2 of 4: How to Improve Your RFP

In part one, we touched on areas on how to improve your request for proposal. We mentioned mitigating risks, improving bid responses and clarity. In part two, we will provide further amplification to these three areas.

Mitigating Risks: To reduce risk or to reduce liability against your organization we strongly recommend you involve legal counsel prior to issuing any formal RFP or RFQ documentation. Be sensible, if the proposal has a $5,000 budget you might wish to pass on the legal counsel review, however, if the proposal has a considerably larger value and or an inherent risk, then you should consider this option. Having provided this caveat, we are also assuming you are using a quality template that has been reviewed and approved by your organization in the first place.

Other ways to limit liability is to ensure your instructions to bidders are consistent and do not contradict within the proposal. An example, would be a technical specification being at odds in two different areas of your document. Another example, is an extension to the submission date. If you indicate the tenders or proposals must be received by 3:00 PM PST on August 4, 2015, then you are legally bound to honor this timeline. Many organizations date and time-stamp proposals at time of receipt. This log and control function is a form of mitigating risk in the event they are challenged. If you issue an addendum or extension to a deadline then this must be provided to all bidders.

Risks and liabilities are a very dry topic and we could spend a considerable amount of time on this subject alone but we hope the above gives you some sense on how to avoid getting embroiled in a legal challenge. Lets move on to improving your bid responses.

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Site Launch

July 30, 2012 RFQPro launches second site - www.rfptemplates.org to provide templates, tools and resources for both purchasing and sales professionals.  We hope our templates and on-line resources will help…

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