Can you write a RFP document after reading the paragraphs? The student is required to produce a Request for Proposal (RFP) to be presented to a fictitious group of HR software firms in order to receive proposals as the starting point for a selection process for a Human Resource Information System software system. A Request for Proposal is an invitation for suppliers, through a bidding process, to submit a proposal on a specific commodity or service. A bidding process is one of the best methods for leveraging a company's negotiating ability and purchasing power with suppliers. The Request process brings structure to the procurement decision and allows the risks and benefits to be identified clearly upfront. The Request purchase process is lengthier than others, so it is used only where its many advantages outweigh disadvantages and delays caused. An RFP involves more than a request for the price. Other requested information may include basic corporate information and history, financial information that can the company deliver without risk of bankruptcy, technical capability which used on major procurements of services, where the item has not previously been made or where the requirement could be met by varying technical means, product information such as stock availability and estimated completion period, and customer references that can be checked to determine a company's suitability. The added benefit of input from a broad spectrum of functional experts ensures that the solution chosen will suit the company's requirements.
- Decide correctly on strategic procurement.
- Obtain correct information to enable sound business decisions
- Leverage the companiesâ purchasing power to obtain a favorable deal.
- Informs suppliers that your company is looking to procure and encourages them to make their best effort.
- Requires the company to specify what it proposes to purchase. If the requirements analysis has been prepared properly, it can be incorporated quite easily into the request document.
- Alerts suppliers that the selection process is competitive.
- Allows for wide distribution and response.
- Ensures that suppliers respond factually to the identified requirements. Suppliers know that if selected, they are contractually bound by their previous representations. Document should be at least 5 to 10 pages.