The most robust method to assess the competitiveness of your prices is to host a tender. Given no two businesses are the same, it stands to reason that no two tenders are likely to be the same either. Thanks to the years of experience and the numerous tenders supported every year, the team at Benchmark Consulting have developed a suite of tools and techniques which amalgamate this knowledge to drive a fast and effective tender event.
Starting with the Request For Information (RFI), Benchmark Consulting have designed a non-commercial scorecard which not only highlights prerequisite items required, it also scores all elements resulting in a numerical score in order to benchmark the tender participants.
The tender participants who successfully complete the RFI process, will be invited to complete a Request for Quotation (RFQ) document. These are tailored to your specific business and can range from simple average pricing templates, to fully itemised costing, encompassing campaign running of design families, delivered to numerous locations. Ultimately all RFQ templates are designed to facilitate efficient post tender analysis, enabling fast and effective decision making.
To further support this process, the team at Benchmark Consulting can take a deep dive look in to specific tender submissions and Should-Cost-Model the submission. When complete, we highlight areas where further synergies could be achieved and cost removed, in addition to assessing the sustainability of the suppliers prices.
To conclude the process, the team at Benchmark Consulting can work together with yourself and your elected supplier, to design a road map of savings to be achieved during the contract period. All of which will be assessed using the cost model to ensure 'Full Potential' is delivered, whilst maintaining the suppliers margins at consistent levels.
Please contact the team at Benchmark Consulting for an online demonstration.