When making a new technology solution purchase, how many RFPs do you request from vendors?
1-228%
3-569%
5 +1%
236 PARTICIPANTS
Director in Manufacturing6 months ago
And as part of the process we always do a blind reverse auction. However this only works if you are truly willing to accept the bids and potentially go with the second or even third choice. We are highly price sensitive so we weigh PRICE very high in our matrix for evaluating solutions. We have in occasion seen the “best offer” prior to reverse auction drop 20% during the auction. Especially near end of month and end of quarter