Do You Want More Time to Run RFPs or More Time to Analyze the Responses?

Do You Want More Time to Run RFPs or More Time to Analyze the Responses?

If you had to choose, would you want more time to run RFPs or more time to analyze them?

Why should you have to choose between efficiency and effectiveness?

You shouldn’t have to make that choice but most people I speak with in procurement are constantly juggling priorities.

They are feeling overwhelmed by their workload and are forced to shortcut either event creation or the analysis because they don’t have the time needed to do both well.

This got me to thinking about features that could save you hours every week, so you could manage and analyze all your events.

In less than 30 minutes I made a list of 50 features that every sourcing tool should have.

Let me share a small sample from my list:

  • Suppliers can login and update their information for global use or for specific events.
  • Suppliers are sent automatic reminders when required documents need to be updated.
  • Suppliers can be selected for an event based on tags or prior participation and their data automatically flows into the sourcing event.
  • All communications to/from suppliers are contained in the platform. Updates and requests can be sent globally or by exception.
  • Model requests and responses exist for recurring steps.
  • Reminders are sent for any item that hasn’t been completed and the status can be viewed in real time on a dashboard or in a report sent to your inbox.
  • Reminders/requests can be sent to suppliers, stakeholders, sourcing team members or yourself.
  • Dashboards provide real time status on open and completed steps.
  • All supplier submissions are completed online or with an approved upload that is rejected if it has been modified or contains items that fall outside of an acceptable range.
  • New events can be created from past events in whole or in part.
  • Templates can be created from scratch or by copying all or part of an event or multiple events.
  • Bid summaries are automatically created and they can be modified to meet the requirement of a recipient of any level.
  • Access to the event can be to be segregated by individual based on their need to create or modify or read.

This is all about being efficient and effective.

How much more relaxed you would feel if you could save 5 to 8 hours a week?

I don’t know about you, but I get frustrated when I end up wasting time doing things that could be handled automatically.

I love to cook, and I used to depend on one reliable timer which I “occasionally” misplaced. Alexa has eliminated that small annoyance – I can set multiple timers just using my voice. I still don’t know where my timer is but I no longer care.

I can order my pizza online faster than calling and I can be sure it will be prepared properly.

These are simple examples of technology eliminating small frustrations and that means saving time.

Why shouldn’t you be able to eliminate redundant and inefficient tasks in your day-to-day sourcing life?

There are tools available that will save you 5 to 8 hours a week.

Imagine if you could see your kids play softball or attend their dance show or swim meet. How about time to have dinner with your spouse or a group of friends?

Let your boss know how much more productive and happy you would be if you didn’t get bogged down with tasks that can be automated.

Great organizations are constantly working on getting better.

Do you want more time to run RFPs or more time to analyze the responses?

You shouldn’t have to choose.

Ask better questions, make changes and 2018 will be your best year ever.

Action Step: If you are uncertain where to start the process of change, a procurement professional like myself can provide guidance and expertise to help your organization achieve the results you want.

If you want to go explore this topic in greater detail, please contact me. I invite you to request 30-minute discovery conversation. In my experience the next step will be apparent at the end of the call. I never assume that what I have to offer will be right for everyone, so don’t expect a sales pitch. You can reach me at (973) 718-7071 x875. The call will be forwarded to my mobile phone if I am not in my office which is pretty likely.

If you would like to know more ways to reduce costs without changing the way you do business, simply give me a call or send me an email with your contact information and the best time to reach you.

You Won’t Drift to Success©

Commit to taking the next step.

Until Next Time, I Wish You Great Success in Your Business and in Your Life

Mike Jeffries