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LTMS 530

LTMS 530. Evaluate and Select Products and Applications. Topics. Criteria for evaluation RFIs ,(request for information RFQs , (request for quotes) RFPS (request for proposal) Process of Conducting Bids. Criteria for Evaluation. Price Quality of Solution Does it meet the intent?

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LTMS 530

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  1. LTMS 530 Evaluate and Select Products and Applications

  2. Topics • Criteria for evaluation • RFIs,(request for information • RFQs, (request for quotes) • RFPS (request for proposal) • Process of Conducting Bids

  3. Criteria for Evaluation • Price • Quality of Solution • Does it meet the intent? • Company History (may ask for company financials; how often have the done this for others, ) • Time to Deliver (how long to implement) • Financial Stability • Guarantees

  4. Request for Information (RFI) • Informal Document (used to determine interest from vendors; lets you know who’s got the product, who’s willing to wok with you; if they are in your budget) • Determine Interest from Vendors • Get ballpark pricing for Customer (can allow you to seek out others to help lower pricing • Prepare Vendor for actual RFQ/RFP (let’s vendor aware of what’s to come;

  5. Request for Quotes/Proposals • Formal Document • Officer(main point of contact purchasing coordinator) • Requirements (more defined) • Timelines (specific detail) • Evaluation Methods (includes rubric on how the proposal will be distributed) • Pricing Templates (include an excel spreadsheet – notes taxing)

  6. Bid process • Determine Requirements • Develop Request Document • Release Document (generally a one-page summary to start to invite those who want to bid) • Conduct Pre-bid Meeting (two weeks after release of full rfp – then allow vendors to ask questions) • Cutoff questions (generally answers are sent in writing and dispersed to all bidders) • Receive Proposals (evaluation begins; time-stamp receipt and opening) • Conduct Vendor Interviews • BAFOs ( ask for best and final offer from vendor) • Award Contract • Negotiate Contract (be sure you are happy with terms andspecifics) • Contract Signature

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