Service: Competitive Price Analysis
A Competitive Price Analysis offers a quick and affordable review to determine if there would be sufficient potential savings to justify a more comprehensive review. This analysis provides a great indication whether a more detailed strategic analysis and request for proposal, bid analysis, and supplier negotiation will lead to significant enough savings.
Since even a modest percentage of savings is likely to be worth significant savings annually, the moderate investment of time and modest consulting fee can generate significant ongoing dividends.
Some of the advantages of a Competitive Price Analysis:
- Typically can be done in two weeks or less
- Best done about one year before existing print contract end date
- Highly accurate in predicting savings potential
- May indicate need for a comprehensive RFP
- May lead to early renewal with existing supplier if client satisfied with quality and service
- May result in cost savings in last year of current agreement
- All or part of fee may be credited toward cost of comprehensive RFP process consulting fee
Katherine Ring, Advertising Manager, Baudville, Inc.
We recently utilized Lufkin Strategic Procurement consulting services to prepare a competitive market pricing comparison. Bill’s analysis and insight was very precise, and the points he brought up were instrumental in our successful contract renewal with our printer. Our savings as a result of his insights are significant. As a newcomer to the print and paper world I was especially grateful for Bill’s mentoring on the nuances of purchasing strategies.
If you are interested in learning more about the potential savings opportunity of a Competitive Price Analysis, please contact us to discuss how this could work for you.