It’s no secret that the supplier selection process can either make or break your business, depending on how you handle it. Discovering potential suppliers takes time and financial resources, so it’s not a process your procurement team should take lightly.
Being able to create a detailed vendor scorecard is an essential skill of any procurement team, which is why we’ve compiled this guide containing everything you need to know. You’ll not only learn how to develop supplier scorecards but also key best practices that go into creating them.
Does your procurement team struggle to keep track of your RFP response process? If so, you’re certainly not alone. While creating requests for proposals is a necessity for any company wanting to buy goods or services from a third–party vendor - the process is often quite chaotic.
The RFP (request for proposal) process has become a staple of the modern construction industry for procurement teams and construction firms. In the past, many firms relied primarily on their reputation and word-of-mouth referrals to sustain themselves. Not as much anymore…
RFx processes are a particularly cumbersome aspect of procurement when done manually - especially when you’re dealing with a tight deadline. If your RFI management approach involves sending emails and managing supplier spreadsheets, you can likely attest to that. There’s nothing worse than trying to keep track of hundreds of suppliers that are all on different email threads.