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Sourcing software & providing your suppliers with enough information

Providing suppliers with the information they need to respond with a realistic and confirmed quote is sometimes difficult for procurement organizations. Challenges include not having the correct form with space for specifying all the information, not having a consistent communication method and suppliers not knowing what specific details are needed to respond quickly and accurately. Very often, suppliers respond too late to be considered in the awarding of business based on RFQ responses. These challenges can be addressed with sourcing software.

How QStrat’s sourcing software helps provide suppliers with the information they need

 

  • QStrat’s QLM sourcing software provides the ability to completely customize the RFQ form to include all the information needed by suppliers. The RFQ form includes the space for suppliers to complete a detailed response. Multiple forms may be designed and implemented for different purposes to capture the information specifically related to the request.
  • RFQ responses are submitted electronically adhering to a single, consistent format for easy comparison across supplier submissions. Suppliers receive confirmation of their RFQ response submission to keep for their records.
  • Forms are customized to handle different data types (e.g., text, decimal, integer) and each field may be identified as mandatory or optional. Any mandatory fields that are not completed by the supplier will be clearly marked and the submission will not be permitted until values are provided.
  • Some additional features provided by QStrat RFQ forms is the ability to provide instructions to suppliers using mouse overs. When a supplier mouses over a field on the RFQ form, instructions about what information is required or how to format it may be displayed. Suppliers are also able to provide additional details (e.g., specifications, drawings) with their RFQ response. Simply attach a file to the RFQ response form and submit it along with the details in the form with one simple click of a button on the form.
  • Reminders are sent to suppliers when they have not responded to the RFQ sent out. The timing for a reminder is configurable in the application. No supplier can forget about responding to an RFQ when they receive a reminder that it is due within a short time period.

QStrat’s QLM sourcing software collects all RFQ information in a single, simple to use repository that supports management reporting and spend analysis.

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