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.
Cost savings and cost avoidance are important strategies for procurement teams. Explore how you can differentiate between cost savings vs cost avoidance and see how you can reduce spend using both along with examples.
While incredibly important, the RFP process is often complex and time-consuming. But with the right approach and resources, you can speed up the process and feel more confident managing RFPs.
When you’re buying for your business, what do you call it? It seems like an easy question, but there [...]
Discover tips, advice, and tools that will help you evaluate and select the perfect banking services for your organization.
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What is an RFX in procurement? Explore everything you need to know about the RFX process and how to issue eRFX including an overview of RFX technology and sourcing software.
Procurement negotiation is a key skill for sourcing professionals. However, many shy away from exercising this skill. Explore how to boost confidence when negotiating with suppliers while reducing costs and minimizing risk.
To select the perfect vendor, you need answers to your critical questions, but how do you ensure you ask the right questions? It often comes down to whether you should issue a request for information (RFI), request for quotation (RFQ) or request for proposal (RFP).