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5 Tips for a Top Notch Bid List

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There are many parts to the Pre-Selection phase, but one essential piece is the Bid List. Here are some tips that will help your organization stand out from the competition.

A Bid List is a key document that explains why you, as a supplier, are the right partner for a customer organization. OEM’s and Tier 1 suppliers will consider the following points when evaluating a potential supplier:

  • Existing and Past Performance Data

  • Current Supplier List

  • Risk Assessment Results

  • Technical Capability

  • Financial Stability

  • Sustainability

  • Labor Practices

Based on this criteria, here are some tips for making you stand apart from the others:

  1. Numbers are key. Make sure to include relevant sales numbers as well as some measure of satisfaction from your other customers like testimonials. Just because you sold a lot of something to a customer does not always mean they were happy with it.

  2. An organization is going to consider its current client list, so what can you offer that someone on the list can’t? Think of how you are innovating your product or process.

  3. Be detailed about the process. A customer is going to want transparency in your process. Be honest and clear about your labor practices and your ability to manage the scope of work from that particular customer.

  4. Fewer sales do not mean you automatically lose. Don’t count yourself out of the race just because another supplier has sold more than you have. You may be able to offer a more efficient process at a lower cost.

  5. Update Your List. Your numbers and processes are not going to stay the same over time. Make sure your Bid List stays up-to-date with this information.

Do you maintain a Bid List? For more details on the Pre-Selection Phase and building a Bid List, be sure to review the CQI-19 Subtier Supplier Management Process Guideline.