696: Dear Supplier… The Art of Giving RFP Response Feedback

“There is one thing you can do that really creates a positive ROI for an RFP respondent even if they lose. One thing that will increase the chances that you receive the best RFP responses possible… That one thing is feedback.” - Philip Ideson, Founder and Managing Director at Art of Procurement In this special solo episode, Art of Procurement Founder and Managing Director Philip Ideson explains why it’s so important for procurement to give meaningful feedback to unsuccessful bidders.  This feedback is an often-ignored part of the RFP process, but taking the time to give substantive, detailed feedback can lead to better RFP responses in the future, increased goodwill with suppliers, and stronger long-term relationships that benefit everyone.  In this episode, Philip shares practical tips on how procurement can efficiently incorporate better feedback and responses to losing bidders as well as the benefits this can lead to. He will discuss: Why procurement should view giving feedback as creating value, not just another obligatory task How to give insightful, meaningful feedback beyond the usual “you were too expensive” or “your application fell short” How to leverage RFP feedback to help suppliers improve and build stronger long-term relationships that also benefit the business Links: Subscribe to This Week in Procurement