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A “THREE SIDED” DISCUSSION OF THE FRACTURED DYNAMICS OF PROCUREMENT FOR TRADESHOWS & EVENTS.
Buyers are from Mars.(Often Opposite sides)
Suppliers are from Venus.
Buyers are from Mars.Procurement&Line of Business
Procurement Truths::• Lack experience/insight in services they are
acquiring• They are in a thankless job• Often find “value add” perplexing• See the LOB as spend thrifts• Compensation and evaluation is linked to
savings• Alternative metric can be risk evaluation (T&C’s,
IP)• Owns final approval of an engagement
LOB Truths::• Have a predilection in selection, “Favorite”• Hate having procurement involved• Not discerning |Attracted to pretty picturesBOTH:• By definition are evaluating the supplier• Confuse RFI with RFP
Suppliers are from Venus.
Truths::
Think their ideas will be stolenLack a real discernable differentiatorThink procurement is a pain & clueless“Know” the buyer has a favoriteDetest so many silly questionsFeel pressure being evaluatedSpends $$$ on speculative efforts
ARE DESIGNS REALLY SHARED DURING RFP RESPONSES?
Stirring the Pot
Suppliers
Truths::
61% say they were offered a peek
24% admit using others designs
19% of buyers admit offering a peek
WHY NOT OFFER A MUTUAL NDA AS FOR USE WITH EVERY RFP?
PS: TSEA HAS ONE THAT NEVER GOT BROADLY ADOPTED.
WHY AN RFP IS ISSUED?Stirring the Pot
Buyers
BUYERS REALLY DO WANT TO SEE CREATIVE COSTS?
Stirring the Pot
Buyers
Truths::
79% of buyers want to see the cost identified
RFI & RFP… A FAILURE TO DISTINGUISH!
Stirring the Pot
RFIBlock & Tackling
Requests::Organizational StructureFinancials (D&B)Size FTE | RevenueLocationsProcesses & PracticesCurrent Client PortfolioQuality AssurancesRates | Billing Practices & TermsAttributes::Database DrivenQuick Response
RFPRequests::Free Design | CreativeDirect pricing not rates “demonstration” of valueAttributes::Engages Costly ResourcesImpacts Cost Structures (Yours)Impacts Billable Work | Resource HogLengthy Response Time
WOULD YOU LIKE TO SEE A STANDARDIZED RFI TOOL?
Stirring the Pot
Buyers & Suppliers
Truths::
69% of Buyers want standardization
74% of Suppliers want standardization
SO WHY NOT OFFER ONE FROM E2MA
In Summary
A common understanding of each parties needs, concerns, and relationship to the other parties is very helpful in the relationship
Industry standard RFI and dual NDA templates of great help.
Recommendation: Once engaged by a firm develop KPI’s with procurement and maintain a regular relationship as a course a business.
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