Pallet RFQ (Request for Quote) Preparation
A request for quote is pretty self-explanatory. However, what goes into preparing one to go “live”? Some questions that may go through your head, how much information do we need to present to the suppliers? What do you need to prepare before publishing? What amount of time to we give before the deadline? Who do we want to invite to participate? Here at Timber Industries we have participated in countless Pallet RFQs, both large and small. Below are some items to consider before publishing your RFQ to prospective suppliers:
- Do we have all locations accounted for with correct addresses?
- Do we have all correct pallet sizes listed per location?
- Do we have all updated and current wood pallet specifications listed and ready to provide to the suppliers who are bidding our project?
- Do we have corrected annual usages, so the supplier has a sense of the size of the bid?
- Do we have an active point of contact that can answer supplier questions efficiently throughout the bid process?
- Is all of our information in a clear, organized fashion so it is easy for the suppliers to know exactly what we need?
- Is our timeline for submission fair and reasonable?
- Have we set a standard of supplier/customer contact during the bid process?
Please note, all of the items listed above are obviously not necessary or required before a client sends out an RFQ. The items are also not factual but based on experience.
However, it is extremely helpful to the suppliers to have as much accurate information as possible. This allows for the supplier to submit a thoughtful, well-organized and competitive bid. It will also make the review process go smoothly for the client. Sounds like a win-win for both parties, right?