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Method and System for Performing Analysis of Suppliers in a Request for Proposal (RFP) Based on Historical Qualitative Metrics

IP.com Disclosure Number: IPCOM000257037D
Publication Date: 2019-Jan-12
Document File: 3 page(s) / 32K

Publishing Venue

The IP.com Prior Art Database

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Method and System for Performing Analysis of Suppliers in a Request for Proposal (RFP) Based on Historical Qualitative Metrics

Disclosed is a method and system for performing analysis of suppliers in a Request for Proposal (RFP) based on historical qualitative metrics. The method and system analyzes sentiments corresponding to qualitative data and quantitative data in the RFP process to better understand the recommendation of suppliers in the RFP. The qualitative data includes, but is not limited to, frequency of correspondence between the business and a supplier and sentiment associated with that correspondence, time of day of correspondence, quality of submittals, issuing of Request for Information (RFIs), frequency of response to RFIs, number of business units involved, number of supplier representatives involved, tone of correspondence, timeliness of replies/responses, and analysis of relationship. Examples of quantitative data in the RFP process include, but are not limited to, cost, lead time, and freight. In accordance with an embodiment of the method and system, a procurement agent predetermines guidelines in which suppliers must meet. The procurement agent sends an RFP to a set of suppliers and enters information such as, but not limited to, required timelines, pricing, into an RFx tool. The method and system then analyzes sentiment and qualitative factors from sources such as, but not limited to, phone, email, text and contractual language and documentation, using an RFP tool. The metrics that are analyzed include, but is not limited to, message sentiments, correspondence times and a number of supplier representatives involved in the bidding process. For example, the sentiment of email chain is analyzed to determine relationship of supplier with a business. In another example, consider that an RFP is to be run with a 1-month time constraint, and based on historical email correspondence of Supplier A, it is identified that an average time to receive a finalized bid is 3 weeks, leaving insufficient time for negotiating, contracting and delivery-net. Therefore, the method and system disqualifies the supplier from bid. The qualitative data is used as a consideration for each of the suppliers within the data set. This negative sentiment is measured against the input in the RFP tool to determine if the negative sentiment can withstand the RFP guidelines. The suppliers who are unable to withstand the predetermined guidelines are then automatically eliminated from any further considerations. The procurement agent is then left with a li...

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