Quotation time - when more is just enough!

If you are thinking whether to give one or two weeks quotation time, I would recommend giving three weeks - Why?

Preparing a quotation requires normally going through a sales process - typically the larger the company the more process gates a bid manager has to clear before he can send out the quotation to you.

Especially tricky are inquiries for something requiring subcontractor to be involved - then you have two consecutive sales processes to be cleared before you can have your offer delivered to your inbox.

Uncertainties in pricing equals higher pricing

If there are uncertainties in the bid pricing because there wasn′t time to get binding prices from the subcontractor, bid manager has to carve out the task or use estimates. Even the best estimate will have a safety margin added to it if you were asking for a fixed price.

Fixed price = Price + reservations + additional works + profit + then some

If you have a supplier requesting more bidding time just remember that he is not being lazy, he wants to deliver the best possible offer to you reducing the uncertainties as much as possible to also have the best possible price.

And next time give an additional week offering time - more is just enough!

#sales #businesdevelopment #quotations #salesprocess #