3 Tips for Creating More Successful RFQs On MFG.com

MFG.com RFQs are the pillar to attracting better quality Suppliers, avoiding poor performers, and maximizing the efficiencies of the vetting and award processes.

They don’t just express the particulars of a specific job, part, assembly, or project – RFQs serve many other purposes that Buyers on MFG.com often overlook. RFQs also:

 

 

  • Introduce the Buyer’s company and its values
  • Attract Suppliers with VERY SPECIFIC capabilities and capacities
  • Aid in the creation of shortlists for qualified replacements in the event of current Supplier failure
  • Ensure Suppliers can accurately and quickly provide correct pricing and scheduling feedback
  • Introduce other Buyer needs beyond more recent or active requirements

 

Just as successful custom parts manufacturers are well-versed in recognizing the traits of Buyers that best fit their business and technical needs, the overall collection of a Buyer’s RFQs on MFG.com can entice the Suppliers that match the buying company’s own needs.

 

 

 

Here are 3 tips to ensure RFQs submitted on MFG.com maximize their power and efficiency to serve the Buyer before, during, and after the award.

 

Be Smart About Distribution

When setting up distribution of an RFQ on MFG.com, ensure that needs are well thought-out and presented in the RFQ. For example, distributing to a wide swath of countries or regions often put the responding Suppliers in poor positions to compete with lower cost counties. Broad distributions also hinder the buying organization by making an ‘apples-to-apples’ comparison more difficult, adding unnecessary inefficiencies to the vetting process. If broader distributions to regions or countries are necessary, consider separate RFQs for each of them.

 

Be Open to Other Processes

Regardless of whether an RFQ is for a new or legacy part, allow for recommendations for processes from the responding Suppliers. Often, their expertise in engineering, machining/manufacturing processes, or logistics can offer improvements and savings to established or assumed solutions. This practice also allows higher-functioning Suppliers to expose themselves and better and more reliable partners.

 

Don’t Just Focus on Part Or Price

Cost-cutting will always be an issue, and it should be. But Suppliers that quote extremely low pricing when compared to like competitors can spell disaster down the road. Those lower costs (and Suppliers’ margins) must come from somewhere, and they usually indicate substandard materials, poor tolerances, or sloppy business practices around accounting, billing, or delivery. Of course, there are Suppliers who want to do business with a particular Buyer that will quote very low initially for the privilege. It’s always a good idea to engage low-bidding Suppliers on MFG.com to determine their motives early.

Do you have other examples or tips to improve the RFQ processes? Does your company have best practices to add to this list? Let us know, and we’ll update this post.