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How the "Bid Texas Process" works for you! |
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Identify the Market |
| First, the customer identifies the market segment it wishes to participate in and identifies potential/past suppliers. The customer identifies the item/service and current cost. | |
| Request for Quotation | |
| The next stage involves a request for Quotation (RFQ). The customer along with Bid Texas describes what it wants and how it wants it in order to receive an accurate quote from the potential supplier. Quality, Terms and Conditions, Volume, etc. are defined by the customer and analyzed by Bid Texas who then writes and publishes the RFQ. The RFQ explains the process of participating in an online bid enticing suppliers to compete for the customer’s business. The more bidders, the better chance of getting the best possible price for the customer. | |
| Pre-screening | |
| The third stage is a thorough pre-screening. For any given market, there are numerous potential vendors vying for the customer’s business; thus, necessitating a thorough screening process. The customer provides a list of incumbent and other high quality bidders to Bid Texas who also identifies potential bidders to be approved by the customer. Once the bidders have been identified, they are trained in the online bidding process. | |
| Auction and Award | |
| Finally comes the Auction and Award of Business. The online bidding is monitored by the customer procurement department and Bid Texas. On computers in their own offices, each bidder can see the bid starting point and the amounts being submitted by the other bidders, but they can’t see the company name of the other bidders. As the bids come in, the cost of the goods or services the customer is purchasing goes down. Once the bid closes the customer begins analyzing the results and the bid is awarded. |
Register now to become a Bid Texas On-Line client! |
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© 2005 Bid Texas Online, Inc. |