“Put yourself in the shoes of a supplier. Lengthy RFPs take massive amounts of time and man power to answer, and at some level, those extra costs are passed onto the buyer”

The latest report by BravoSolution, the spend analysis and strategic sourcing company, outlines five strategies that buyers can leverage to design better RFP questions. The simple formula: get rid of the filler and create a clear and concise document.

“These tips sound so simplistic, but condensing what you want to know from suppliers is a challenge for many companies,” said Ian Dawson, author of the report and eSourcing consultant at BravoSolution. “The ultimate goal of every RFP should be to entice all relevant suppliers to submit a bid, which drives higher competition and a better savings opportunity for the buying organisation.”

Here is a preview of the report’s RFP best practices, available here:

• Prioritize RFP requirements. While there is no standard number of questions, create a system for trimming what you don’t need. Dawson recommends starting with 5-7 sections, then ranking each question by importance and eliminating the least important.
• Set clear expectations for suppliers. Will the questions make sense to the suppliers? For example, when asking about supplier diversity, explain in the RFP what qualifies as a ‘diverse’ supplier or if any certifications are required. This eliminates the need for later clarification.

“Put yourself in the shoes of a supplier. Lengthy RFPs take massive amounts of time and man power to answer, and at some level, those extra costs are passed onto the buyer,” explained Dawson.

About BravoSolution

Supply management executives are now, more than ever, under pressure to deliver more savings, develop and manage strategic supplier relationships, accelerate procurement cycles, and maintain process excellence. Confronted with these diverse yet consistent challenges, CPOs and sourcing professionals must seek tailored solutions that deliver rapid ROI to their business.

BravoSolution offers leading software and services to fit the needs of today’s sophisticated supply management organisations. Our services organisation, one of the world’s largest teams of professionals dedicated exclusively to sourcing and procurement consulting, delivers lean, targeted services to support strategic sourcing and procurement initiatives. Our industry leading software toolkit supports the full supply management lifecycle across myriad industries, geographies and business models.

As of today, over 50,000 procurement professionals in 60 different countries are benefiting from BravoSolution’s technology and services – unlocking tangible benefits such as increased process efficiency, decision support, cost reduction, improved process governance, greater quality relationships with vendors and the ability to share, understand and act upon the wealth of sourcing-related data held within their organisation.