Best Practices in Competitive Bidding: Create Effective and Efficient RFPs
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Kevin Giblin
- Topic: Purchasing
- Credit: ATAPU 1.5, CPE 2.0
Your Benefits of Attending:
- Understand the importance of the RFP as a strategic tool.
- Learn what you should include in your proposal to ensure maximum value.
- Gain insight in RFP formats - best practices for efficient and effective responses.
- Learn how to set expectations for both stakeholders and suppliers and why that is critical.
- Understand timelines and guidelines for a winning RFP.
An extensive list of spend categories means that one RFP template won’t be sufficient. However, with consistency in approach to building an RFP, you will not only develop a sustainable, efficient process within your company, but you will create broader opportunities to capture the best overall strategic value from supplier bids. You will leave this webinar knowing how to more effectively create RFPs based on requirements and areas of impact.
- Kevin Giblin - Biography 00:02:11
- Today’s Agenda 00:03:14
- Today’s Learning Objectives 00:04:49
- Best Practices In Competitive Bidding: Create Efficient and Effective RFPs - Types Of Bidding, Advantages, Potential Issues 00:07:21
- Types Of Competitive Bidding 00:07:42
- Why Competitive Bidding? 00:13:14
- Advantages Of Competitive Bidding 00:16:37
- Why Do Some RFPs Fail? 00:18:30
- Why Do some RFPS Fail ? Continued 00:21:43
- Problems Created By Poorly Executed RFPs 00:31:29
- Best Practices In Competitive Bidding: Create Efficient and Effective RFPs - Keys To A Successful RFP 00:40:44
- Keys To Ensuring A Successful RFP 00:41:39
- Keys To Ensuring A Successful RFP Continued 01:01:08
- Steps To Ensuring A Sustainable RFP Process 01:09:13
- Best Practices In Competitive Bidding: Create Efficient and Effective RFPs - Process Flow, Practical Examples, Guidelines 01:14:40
- RFP Process Steps 01:15:24
- Content Matters - Building A Successful RFP 01:18:17
- Content Matters - Building A Successful RFP Continued 01:21:42
- Content Matters - Building A Successful RFP Continued 01:22:49
- Project Tracking For RFPs 01:24:20
- Building Consensus Decisions 01:26:33
- Building Consensus Decisions Continued 01:27:24
- Best Practices In Competitive Bidding: Create Efficient and Effective RFPs - Takeaways 01:30:05
- Key Takeaways 01:30:47
- Presentation Closing 01:40:59
- Bid 00:09:21, 00:20:02, 00:22:24, 01:06:53, 01:17:44, 01:25:42
- Contract 00:28:09
- Negotiated Bidding 00:10:38
- Open Bidding 00:08:02
- Procurement 00:09:17, 00:10:30, 00:13:22, 01:01:20
- Request For Proposal (RFP) 00:02:02, 00:03:44, 00:06:20, 00:11:08, 00:17:44, 00:31:54, 00:36:21, 00:41:39, 00:45:56, 00:49:08, 00:54:45, 01:05:12, 01:15:22, 01:22:54
- Selective Bidding 00:08:34, 00:10:08
- Single-Stage Bidding 00:12:00
- Sourcing 01:25:01
- Spend Analysis 01:09:18
- Supplier 00:09:32, 00:16:44, 00:21:10, 00:28:40, 00:32:50, 00:35:38, 00:40:27, 00:45:41, 00:54:36, 01:02:07, 01:17:31
- Two-Part Bidding 00:11:09
- Two-Stage Bidding 00:12:19
- Vendor 01:01:08
Bid: A bid is an offer made by an investor, trader, or dealer in an effort to buy an asset or to compete for a contract.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Negotiated Bidding: The negotiated bid is the most common method of bidding for commercial construction projects. It is a more straightforward, less formal process that is applicable for most projects.
Open Bidding: A procurement method for acquisition of goods, works and services which involves an invitation to submit a bid in a competitive bidding process to all interested economic operators.
Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.
Request for Proposal (RFP): A request for proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals.
Selective Bidding: A process of soliciting competitive bids for the award of a contract for construction; the owner selects the constructors who are invited to bid to the exclusion of others, in contrast to the process of open bidding.
Single-Stage Bidding: The main aim of the single-stage approach is to generate a firm price at the outset through a competitive tendering process. Bidders submit bids in one envelope containing both the price proposal and the technical proposal. The envelopes are opened in public at the date and time advised in the bidding document. The bids are evaluated.
Sourcing: A process to obtain the best overall strategic value, as a subset of the overall Category Management Framework.
Spend Analysis: A spend analysis is the process of cataloging business spend data and reviewing it in order to identify inefficiencies, root out unnecessary costs, remove waste and redundancies, and find gaps within the supply chain to make changes that will ultimately reduce costs.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
Two-Part Bidding: Two part Bid means the technical and financial bids, each put in a separate cover and their evaluation is sequential and in that order.
Two-Stage Bidding: Bidders first submit their technical proposals, in accordance with the specifications, but without prices. The technical proposals are opened at the date and time advised in the bidding document. The technical proposals are evaluated and discussed with the bidders.
Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.