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As part of the client services team at Intesource I work with both vendors and buyers on e-sourcing events exposing me to both viewpoints as to why providing the correct specifications is fundamental to the success of an event. Every buyer knows correct specs are important, however they can sometimes be difficult to obtain (i.e. new category, using the same supplier for years, etc.). In any event, accurate specifications are essential and here’s why…
Top 3 Reasons to Provide Accurate Specifications:
- Accurate Pricing
- Correct Product
- Less Questions
Expanding on each of these, first is pricing—this may be the most obvious, and also the most critical. To be sure the reverse or forward auction results in the most accurate and transparent pricing possible the vendors need complete specifications to quote ‘apples to apples’, even one small error or omission can completely distort pricing and the buyer may not get the product they expect.
This leads to the second point, product—let’s say a reverse auction has ended and samples have been requested from the vendor with the best pricing. If the buyer receives samples of inferior quality it’s typically because a vendor decided to quote what they felt was a “comparable” product. This is just as important with services; if the scope of work isn’t clearly defined you are going to end up with countless questions and possibly guesswork, which could potentially delay the timeline or lead to less than desired results. Leave no room for interpretation or assumptions.
Last is questions—yes some are unavoidable or unforeseeable, but the more information put into the vendors hands at the beginning will result in less time being spent back tracking or hunting down the correct answers. This encompasses every type of e-sourcing project whether it’s a reverse or forward auction, an RFP, or even an RFI.
If you do run into a project where you simply don’t have specifications, don’t worry – it happens. There are a few resources you can always turn to;
- The incumbent – simply ask them to provide you with the specs for the product or service you’re currently receiving.
- Ask your Account Manager at Intesource. We have a specification library with complete specs for hundreds of categories.
What other methods have you found to be helpful in obtaining specifications?