Vendor Search Consulting/RFP Development

Need to find qualified vendors for an upcoming initiative and develop an effective RFP? Need to guarantee that your vendor review is fair and objective? Need to make sure your chosen vendor meets all of your requirements and can work within your budget? RFP MD can help. Our past experience together with our proven 3-phased approach (described below) ensures that your RFP and vendor selection process is both effective and efficient. For more information, please call 424.835.4500.

Phase 1: RFP Planning & Preparation

  • Define criteria for work and type of vendor you’re seeking
  • Establish internal Review and Selection Committee
  • Determine schedule for all three phases of project
  • Write RFP, present, edit, create final version
  • Develop weighted scoring system

Phase 2: Vendor Search Process

  • Identify vendors conforming to criteria from existing public information
  • Review vendor information and capabilities and select initial candidate pool (no more than 10 vendors)
  • Contact vendors to determine if they can participate in the pitch (have the necessary time, no conflicts of interest, etc.)
  • Send RFPs to pre-screened vendors
  • Evaluate proposals using weighted RFP scoring system
  • Inform winning and losing vendors; invite finalists (no more than 4-5) to present to your company

Phase 3: Presentation Process and Selection

  • Develop criteria for presentations and provide vendors with instructions
  • Establish scoring system for presentations
  • Determine schedule and length of presentations (often 1.5 hours for presentation, .5 hour for Q & A)
  • Evaluate vendors based on weighted presentation scoring system, as well as company/vendor chemistry and other factors
  • Perform necessary due diligence (reference checks, financial stability, etc.)
  • Inform winning and losing vendors, as well as press if applicable

 

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