What's the biggest choke point in your business when it comes to selecting new solutions or services? This doesn't have to be IT related.

Defining the problem we need to solve28%

Identifying what solutions may solve that problem44%

Narrowing the options down to a short list16%

Selecting the right provider7%

Awarding a contract.4%

Something else2%

254 PARTICIPANTS

1.4k views1 Upvote4 Comments

Director in Manufacturing, 1,001 - 5,000 employees

We used an extensive E-auction process. We may have a preferred vendor but we are required to go into a 3-way blind price auction. The upside is it has driven costs very low. However it is hard to have 3 acceptable solutions. And in some cases we are forced to use the low cost vendor — on paper that low cost vendor is to provide the same value but it rarely turns out that way. I recommend e-auctions but ensure you have apple to apple solutions

4 2 Replies

Director of Technology Strategy in Services (non-Government), 2 - 10 employees

You're not the first business I've come across with the 3-way model. What drives this? Is it internal policy, or industry regulation?

3

Director in Manufacturing, 1,001 - 5,000 employees

It’s internal policy. We are a low revenue growth company. We grow earnings per share by aggressive cost cutting, process efficiency and “organizational efficiency “

We have targets each year to reduce vendor spend by minimally 4% and some years a lot more

Very much like GEs top grading and other practices

1

CIO in Manufacturing, 1,001 - 5,000 employees

Fit for purpose , functional , non functional alignment and then commercial deals the deal . It has to be more than one option in the table.

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What is the best work travel advice you’ve ever been given?

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Work travel is a privilege. Embracing your experience to meet new people, and see the beauty of nature and culture wherever you go.

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