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September 2020 - Vol.3, Issue 9

, Welcome to the September ProcurePro Newsletter!

Fall is here! Happy Pumpkin Spice Season!

Tips for Managing a Successful Competitive Bid

At ProcurePro we use a lean and Agile 4 Step Procurement Methodology for all our projects. This methodology, developed through decades of experience, delivers results that are practical and sustainable. It's a method that our clients find valuable and that we use internally for our projects – practice what you preach!

The tips below are pulled directly from Phase 2 – Sourcing Strategy Execution of our methodology. To learn more about our Agile 4 Step Methodology contact us today.

So, here you are, you have a competitive bid to run. You have completed all your planning and research, gathered your requirements, done a marketplace assessment and determined your sourcing strategy. You are ready to move forward with the competitive bid. There is so much to do, how do you stay organized and what are the next steps?

1. Project Plan

It is critical that at this point that you create a detailed project plan. You may have already begun one earlier in the project, and if you have, great! If not, now is the time!   The project plan will outline all essential elements and activities of your project. Ensure you assign realistic dates and timelines to each activity and determine who is responsible for each. This is a good time to review any conflicts within the organization or with staffing issues internally i.e. black out dates, holidays, other conflicting projects etc. Ensure that key project members have reviewed the timelines and approve before moving forward with the execution of the plan. Your project plan will keep you on track and focused.

2. Determine Evaluation Criteria

How will you evaluate the supplier’s responses to your competitive bid? This should be completed BEFORE you launch the competitive bid or at the very least before the responses are due back. There are a number of reasons for doing this. First you want to ensure that you have outlined what it is that is most important to your organization. What are you looking for in a response that will determine the success of a supplier’s response? Evaluations should be set up in a manner that they can be scored easily. i.e. Use a rating scale of 1 – 5 and determine for each question what kind of response would warrant a 1 vs a 3 vs a 5 etc. Ideally, set up questions that can be answered with Yes/No or a drop-down selection and assign weights to each of those. If done correctly, the majority of the responses will be scored mathematically and quickly.

To read the full article click here.

ProcurePro Case Study - Global Transport and Logistics

This transportation company needed help transforming their procurement team, while streamlining their policies and procedures to build capacity for their rapid business growth. ProcurePro was able to detail a procurement transformation road map as well as implement updated policies and processes as part of their broader business transformation. This resulted in stronger internal business relationships between functional units as well as a an aggressive plan to support their growing business.

To read the full case study click here

The role of spend analytics in the next normal

Procurated for you: Jörg Dittrich, Raman Julka, Björn-Uwe Mercker, and Pieter Riedstra, McKinsey & Company

The vital role played by procurement functions has come to the fore in recent weeks through the highly visible need to quickly source personal protective equipment (PPE) and other critical supplies.

Read the whole article here.

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ProcurePro News & Events

ProcurePro Offers New Customized Training!!!

We are so excited to announce that ProcurePro now offers customized training options for your organization for both Procurement and Sales!

We offer various options such as online virtual training or instructor led programs. Our team will work with you to ensure we tailor the training to your organizations specific needs.

Please click here for more details or contact us at info@procurepro.ca for more information!

ProcurePro Webinars & Workshops

About This Session

The problem with traditional linear procurement methodologies used today is that it can take a long time and is often unnecessarily complicated and cumbersome and sometimes the end result is not the best solution. The ProcurePro 4 Step Agile Procurement Methodology takes all the traditional, linear steps, synthesizes, and boils it down to the critically needed steps that deliver a competitive bid, in a simplistic, interactive and flexible way that offers value and savings. In this 1 hour, free session, we will introduce you to:

The 4 Steps To “Agile” Procurement

Requirements & Planning
Managing the RFP or competitive bid
Negotiations
Implementation & Supplier Governance

Who should attend:

Procurement professionals, Business leaders and Entrepreneurs involved in the competitive bid process. This is a compact, high level introduction to the methodology. In depth, deep dive paid training workshops are also available.

Space is limited so register today!

Women For STEM Summit

Join our friends at Ontario Tech University for their 2nd annual Women For Stem Summit. This years summit will be held virtually on Thursday, October 15th at 1:00pm.

This year's Summit will feature keynote speakers Kevin Peesker, President, Microsoft Canada and Rhonda Barnet, President and COO, AVIT Manufacturing, as well as a panel session exploring leadership in a time of crisis.

Registration is complimentary. Donations to the Women for Stem Fund are welcome.

For more information or to register please click here.

Brilliant Catalyst Pitch Competition

Join the students of Ontario Tech on Thursday, October 1st as they showcase their skills and share their business concepts. The competition will feature the top three student startups and as a guest, you’ll be able to vote for one or more of the ideas you think have the greatest potential. The teams securing the most votes will be the competition’s winners!

The event will be held virtually.

For more information or to register please click here.

ProcurePro would love your feedback!

Are there Procurement and Supply Chain topics you would like to see more information and articles on?

Would you like to collaborate on a feature article?

Let us know how we're doing! Send us an email to info@procurepro.ca

Questions?

Please email us at info@procurepro.ca or visit our website. We're always happy to talk or answer any questions you may have about procurement, competitive bids, negotiations and more.

Call us at: 416-505-8698