Implement a Proactive and Consistent Vendor Selection Process
Formalize your process to eliminate bias and maximize value.
RETIRED CONTENT
Please note that the content on this page is retired. This content is not maintained and may contain information or links that are out of date.A poor selection process leads to a poor selection. Symptoms of a poor selection include:
- Employees spend time finding workarounds for tasks that the system cannot do
- The system is always being “fixed”
- Budgets are overrun
- The system takes so long to buy that the competitive opportunity is lost
- People tell you that features are missing that you never knew were wanted
- There are complaints that the system doesn’t work
- The vendor keeps asking for more money
- People challenge how the decision to buy this solution was made
- It seemed to take forever to come to a buying decision
- The cost was much higher than expected
A robust and transparent process will help navigate organizational bias and lead to a good selection. The benefits of a good selection include:
- Happy, productive users
- Appropriate system functionality
- Fair, transparent, and predictable pricing
- Minimal wastage
- Eliminated surprises
- Enhanced procurement process transparency and auditability
- Cost reduction
- Faster procurements
Book Your Workshop
Onsite Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn’t enough, we offer low-cost onsite delivery of our Project Workshops. We take you through every phase of your project and ensure that you have a road map in place to complete your project successfully.
Module 1: Establish Vendor Selection Process
The Purpose
- Document and refine your vendor selection process.
Key Benefits Achieved
- Formalized vendor
selection process.
Activities: | Outputs: | |
---|---|---|
1.1 | Map current process. |
|
1.2 | Identify gaps in current process. |
|
1.3 | Amend and document process. |
|
Module 2: Gather Requirements
The Purpose
- Write a project plan and gather requirements.
Key Benefits Achieved
- Gathered and prioritized requirements.
- A clear project plan.
Activities: | Outputs: | |
---|---|---|
2.1 | Write a project plan. |
|
2.2 | Gather and prioritize requirements. |
|
2.3 | Write your scenario and use cases. |
|
Module 3: Write and Assemble RFx Package
The Purpose
- Learn about
different RFx options and draft a successful RFx package.
Key Benefits Achieved
- Complete RFx package.
Activities: | Outputs: | |
---|---|---|
3.1 | Review different RFx options. |
|
3.2 | Draft RFx. |
|
3.3 | Make a plan for soliciting feedback and publishing the RFx. |
|
Module 4: Perform Due Diligence
The Purpose
- Perform due diligence on candidate vendors.
Key Benefits Achieved
- Crucial information and data points
gathered about candidate vendors
- Due diligence completed.
Activities: | Outputs: | |
---|---|---|
4.1 | Customize a vendor reference script. |
|
4.2 | Reference Script Template |
|
4.3 | Review the due diligence checklist and key activities. |
|
Module 5: Evaluate Candidate Solutions
The Purpose
- Evaluate your vendor proposals.
Key Benefits Achieved
- A selected vendor to recommend to
management with a formal presentation.
Activities: | Outputs: | |
---|---|---|
5.1 | Calculate TCO. |
|
5.2 | Evaluator’s Guidebook |
|
5.3 | Prepare final evaluation. |
|
5.4 | Prepare presentation for management. |
|