The vendor selection process is stressful, but these easy steps can help make it more manageable. Explore vendor selection criteria, weighted scoring basics and best practices from our friends at Lockton Companies HR Technology and Outsourcing.
IT purchasing is crucial to your business's strategic goals, so there's a lot of pressure to get it right. Explore how an IT RFP can help you select the perfect vendor. In addition, explore steps for writing your RFP for information technology, key terminology and templates to get you started.
A request for quotation (RFQ) can be a key component in your procurement process. Are you taking advantage of this tool? Explore how the RFQ works, when you should use one and how to write it. This guide also provides examples and templates to help you get started.
DDQs must be very thorough for responses to provide your organization with the information needed to decide whether to move forward. Use the nine examples as a starting point to write effective DDQs that uncover hidden risks and financial pitfalls.
Strategic sourcing managers focus on maximizing the value of vendor relationships. It's a specialized skill and a rewarding path. Enabled by RFP software systems and other procurement technology, the growth potential in this role is compelling. Explore everything you need to know here.
Whether it's your first RFP or your 101st, sometimes we end up staring blankly at our team, wondering if we've covered all our bases. Learn how to identify and manage sources of vendor risk throughout the RFP and contract review process.
Procurement technology includes a range of interesting solutions including contract management, data sources, RFP management systems, spend analytics and more. Explore our favorite procurement technology solutions in this blog.
Maintaining vendor relationships is crucial to your business. However, ensuring quality and effectiveness is just as important. Explore how to create and use a supplier scorecard to measure and optimize vendor performance.
Breaking bad news is never fun and no one likes rejection. However, for procurement professionals, it’s part of the [...]
Let's breakdown the RFP meaning and explore everything you need to know about this key business tool. Learn the definition of an RFP, who's involved in the RFP process, when you should issue one and how an RFP management system can streamline the process.