Step 5 - Selecting suppliers

In this step supplier selection will take place. First, criteria of the pre-selection will be established and supplier scores will be determined. Following, the RFP (Request For Proposal) will be prepared and issued.

This will be communicated to the stakeholders. Based on the reactions of the suppliers and, if desired, presentations of suppliers, the final negotiation strategy will be developed.
A management review with the client will take place in which the final strategy will be determined. Again, this will be communicated to the relevant stakeholders.

After this, negotiations with the selected suppliers will take place, followed by finalizing the contract with the chosen suppliers.
Finally, stakeholders will be informed about the new agreement and possible obtained savings targets or other goals.

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Step 5