Vendorful: Smarter sourcing for buyers and vendors

Recent Posts

5 Things to Consider Before Hitting Send on Your RFP

Posted by David Wadler on Jul 5, 2018 12:02:56 PM

Most businesses understand the challenges of finding a reliable supplier. Sure, there are “throwaway engagements” where your focus is purely transactional, the sole focus might be quickly identifying who can get the job time. But for larger, more strategic endeavors, the scope of your evaluation likely transcends the supplier’s current capabilities. Indeed, your looking to find a partner with whom you can build a long-term, mutually beneficial working relationship.

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Topics: RFP, Sourcing

4 Reasons Why eSourcing Should Be Your Top Priority

Posted by David Wadler on Jun 26, 2018 8:50:00 AM

As a business, streamlining your sourcing, allows you to save time and money, build better working relationships with suppliers, and ultimately ensures the success of your procurement cycle.

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Topics: Sourcing, RFP

5 Ways to Increase Your Procurement Team's Performance

Posted by Peter Bonney on Jun 21, 2018 9:05:00 AM

The role of traditional procurement teams is changing.

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Topics: Procurement

Top 5 Things Vendors Wish Businesses Knew About RFPs

Posted by David Wadler on Jun 18, 2018 8:55:00 AM

As a business, you know how important it is to create quality RFPs. Good RFPs draw the best bids from vendors, foster better working relationships, and ultimately deliver better results.

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Topics: RFP, Sourcing

Are You Writing Engaging RFPs?

Posted by Peter Bonney on Jun 12, 2018 8:50:00 AM

What’s the difference between an acceptable RFP versus a stellar one that engages suppliers to put forward their best possible response?

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Topics: Sourcing, RFP

3 Ways Reverse Auctions Can Drive Better Business Value

Posted by David Wadler on Jun 7, 2018 8:45:00 AM

We’ve dedicated quite a bit of time speaking to the virtues of the RFP process. Indeed, if you’re sourcing any complex good or service, running a Request for Proposal, is a great way to gather and evaluate the data the will ultimately support the decision you make. While running a comprehensive sourcing event makes sense in many scenarios, there are other situations where price is the overriding criterion. If that is the case, and the product/service being sourced is steeped in commodity rather than complexity, you might have a good candidate for a reverse auction.

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Topics: Reverse Auctions

5 Benefits of eSourcing for Both Purchasers and Suppliers

Posted by Peter Bonney on Jun 5, 2018 9:00:00 AM

The benefits of eSourcing may be clear for buyers, but streamlining the procurement process tends to be met warily by vendors. The apprehension stems from the impression that any level of process automation commoditizes their products and services, and that eSourcing platforms are largely one-sided in favor of the purchaser.

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Topics: Sourcing

7 Ways to Create Effective RFPs to Attract the Best Proposals

Posted by David Wadler on Apr 24, 2018 8:55:00 AM

For business-savvy organizations, requests for proposal (RFPs) aren’t just simple procurement tactics. To them, each RFP represents an opportunity to drive value by engaging both future partners and stakeholders.

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4 Top Common Sourcing RFP Mistakes

Posted by David Wadler on Apr 19, 2018 2:58:53 PM

One of the more common tasks of companies undertaking a new sourcing project is issuing RFPs. Sometimes, the RFP drafting process is viewed as a relatively minor part of the entire project rather than being treated with the same degree of care as other aspects like scoring/evaluating. A thoughtful, well-considered RFP is a key stepping stone on the path to adding to or updating your vendor portfolio. Giving it short shrift, on the other hand, could have the opposite effect and negatively impact the company’s growth, profitability, and efficiency.

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Topics: RFP, Sourcing

3 Ways Feedback Can Improve Vendor Relationships

Posted by Peter Bonney on Mar 13, 2018 8:53:00 AM

For any organization, ensuring that your vendors are able to meet your requirements and expectations is critical. However, this is not just a matter of choosing partners and then passively waiting for them to delight or disappoint: how you manage your vendor relationships can have a major influence on whether they succeed or fail.

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Topics: Vendor Management