Fast Sourcing Advisory.
Getting 80% of the answer in 20% of the time.
Recent research suggests that when Suppliers respond to an RFP, additional detailed requirements increase the Supplier's solution pricing by over 10% without providing additional value. Since the RFP is the prized procurement tool for getting the best price, this seems counter-intuitive.
An RFP is fine when you know exactly what you want to buy. But if the scope changes, or you err on the side of caution and over-burden the requirements, or if the market is changing quickly, an RFP can be overkill.
Fine Line has developed a process to get the Supplier's best thinking early on. Key is a well defined process with well defined expectations.
Fine Line Speed Sourcing delivers:
- Key solution attributes from each Suplier
- Indicative financials and commercials
- General timeline for transition and/or transformation
- Client requirements
- Soft benefits - Client gets strong sense of Supplier capabilities and suitability.
After the Speed Source?
It's up to you. There are several possible scenarios:
- Terminate the process - solution does not present a compelling value proposition
- Select one or two Suppliers to enter into contract negotiations
- Validate solution - establish a pilot program or test program
- RFP - inform an RFP and issue to a select number of Suppliers
- Beginning of Adaptive Sourcing process.