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    1. Asset Management
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    Help Vendors to Know Your Needs

    Aug. 8, 2014
    Make sure your RFP allows for multiple bids, among other things.

    A request for proposal (RFP) is a formal document used for obtaining quotes for products and services, such as the purchase and implementation of CMMS software, related third-party software, mobile solutions, hardware, and re-engineering services. The RFP process is time-consuming when done properly but well worth the investment given the reduced risk and superior pricing that is made possible.

    RFP components

    The objective of the RFP is to describe to prospective vendors, in as much detail as possible, your business, your business requirements, how the RFP process will be conducted, and what information you expect from the vendor. Key components of a typical RFP are shown in the following sample table of contents:

    Read the rest of this article from our sister publication Plant Services.

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