Members Parse RFP Process

When the In-Store Marketing Institute announced its sponsorship of a new research initiative, "Best Practices for Managing the Purchasing & Strategic Sourcing Requests of the P-O-P Industry," it didn't take long to get a response. Almost immediately the 20 openings for underwriting the project were filled, setting the pace for a very productive process.The group spearheading the project, comprising executives from 20 Institute member companies, met in February in Rosemont, IL, for a two-day examination of the RFP (request for proposal) process. David Stec, vice-president of The Center for Lean Business Management, moderated the research program."Manufacturer-client relationships in the P-O-P industry are increasingly dominated by 'strategic sourcing' agreements, which are generally the result of a formal Request for Proposal," said Stec. "This study will give these P-O-P companies the know-how to best position themselves with their customers before the process begins."With legal counsel on site -- to protect the Institute and participants in the study from any antitrust issues -- the group met as a whole and also broke into sub-groups to dissect the process from several points of view.Building on the understanding that RFPs are here to stay, attendees focused on determining the best times to use an RFP to purchase in-store marketing materials, and on establishing the most meaningful and effective ways for buyers to conduct the process. It was decided that suppliers, in turn, should have meaningful criteria that clearly indicate which RFPs to accept, and when it is wise to walk away."We want to develop a study that will be used by both buyers and sellers of in-store marketing materials as a guideline for how to properly execute an RFP," said Peter Hoyt, executive director of the In-Store Marketing Institute.The research findings will be published as a white paper and presented during The P-O-P Senior Executive Congress on June 22-24, 2005, at McDonald's Hamburger University in Oak Brook, IL.

Members Parse RFP Process

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