The Essential Guide to Understanding the RFP Process

A request for proposal (RFP) is an open request for bids to complete a new project proposed by the company or other organization that issues it. It is meant to open up competition and to encourage a variety of alternative proposals that might be considered by the project's planners.

You can consider the best RFP response management for winning the proposal. How you manage the RFP process can and will set the tone for all your advanced vendors. The process well thought out for vendor selection can provide a real opportunity for you in the following fields:

Rebate: Do you know that vendors offer discounts based on product placements; rack allowance; Product movements and other considerations? In some cases, vendors receive manufacturing plants that you need to be sure to be forwarded to you. 

Incentives: vendors are in your store for one thing – to sell their products. Meeting vendor goals may only be achieved if they are in harmony with your goals. What type of incentive is given to your vendor to fulfill that goal? Work with vendors to establish incentives for each party that fosters alignment.

Shipping: You pay to ship whether you believe it or not. Manage the number of shipments to your store every week so you have enough inventory, but not so much so you pay a full load shipping fee for partial delivery. You might want to consider seasonal-based adjustments.

Never get out of the base: all shops carry products that are "must-have" that you will never spend! Your product identification "must-have" and make sure you and your vendor have a clear understanding of the consequences if there are these products that have ever run out of stock. 

Marketing: Identification of programs and investments that will be carried out by your vendor partners in advertising and promote their products. This must be managed a concert with your overall store marketing and is determined along with vendors to ensure