Requests for Proposals are a crucial part of procurement’s job. They’re an essential tool for creating value and acquiring the best possible goods and services. They’re also good tool for building relationships with your vendors. It’s easy to forget that tail spend isn’t just a problem for procurement. Unmanaged spend and haphazard purchase orders can create headaches for vendors, too.
At Fairmarkit, we like to think of RFPs as opportunities. They’re opportunities for procurement to cut costs, hone strategy, ensure compliance, sure. But why stop there? Just as importantly, RFPs are opportunities to build long-term, mutually beneficial relationships with your vendors.
With this in mind, here are some tips to help you get the most out of each RFP:
Follow these tips, and you’re on your way to getting the most value out of your RFPs. Follow even a few and your vendors will thank you. Remember, you’re in this together!