Respond by Dates (RFQ’s)

Respond by Dates (RFQ’s)

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Are you familiar with these phrases?

Time is money.

No time like the present.

Take time to smell the roses.

Time will tell.

Third time’s the charm.

Time heals all wounds.

Time’s a-wasting!

 

You get the idea…

 

“Timing is everything,” A statement that is obvi to most ppl these days, but alas not everyone (SMH as I type this). We live in a fast paced world where instant messaging is not only an app but a way of life. As a Millennial myself I can attest to this. It is the norm to get a response within 5 minutes from someone and if it takes any longer something must be wrong. Possible scenarios (some involving serious injury or death) come to mind.

 

Do you know what a RBD is? It’s a crucial bit of info within a RFQ. There I go again with my acronyms… (Yes, the previous ones were intentional)

RBD is otherwise known as a Respond by Date and RFQ is also known as a Request for Quote, these terms are probably familiar to you if you subscribe to L2Q (Leads 2 Quotes) .

*For more details on how L2Q works: https://blog.l2b.co.za/l2qosis-symbiosis-through-l2q/

*For more on the in’s and out’s on RFQs: https://blog.l2b.co.za/pricing-online-rfqs/

 

Now that you are all caught up on the acronyms let’s get into why timing is so crucial to them.

When a Buyer sends out RFQ’s he specifies a date by which he requires prices back (aka the RBD). The RBD is usually prior to the Closing Date (CD) of the tender. The reason for this is because the Buyer needs to complete the Tender Document before the CD so that it can be delivered timeously to the Client to avoid being disqualified. Now I’m not going to go into depth regarding the CD as this will be covered in next week’s blog (check back same time next week if you want to know more).

Vendors are often aware of the actual Closing Date (as referred to on the tender notice) and may often advise that they will only respond closer to this date. Imagine you are a Buyer and have multiple tenders to submit, multiple prices to collate and the Vendors you have sent RFQ’s haven’t responded, you might start to stress (a lot).

In the end it’s all about communication and timing and at L2B we endeavour to facilitate this.

Here are a few tips to consider:

Buyers can take into account that Vendors require adequate time between receiving an RFQ and the RBD in order to respond positively.

Similarly Vendors need to make note of the RDB on RFQ’s and please respond to these on time.

Buyers are able to send through the relevant drawings and specs for Vendors to be able view for accurate pricing.

Vendors have the ability to register as a Vendor on L2B (this is free of charge) in order to view drawings and price online.

Buyers are encouraged to communicate with Vendors regarding receipt of their prices as well as potential use of their services.

Vendors can easily make use of the links on the RFQ to advise if they ‘intend to price’ or ‘decline’ which only takes a few seconds. This informs the Buyer accordingly which prevents unnecessary follow-ups while aiding communication.

Taking the above into account it all amounts to copious amounts of time saved and I think we can all agree that that’s one thing we can never have enough of.

Want to save time and subscribe to L2B? Comment or Contact me on SashaA@L2B.co.za

 

Sources:

http://time.com/4373616/text-abbreviations-acronyms/

http://www.bucknell.edu/communications/bucknell-magazine/instant-gratification-and-its-dark-side.html

http://socialmarketing.org/archives/generations-xy-z-and-the-others/

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About Sasha Anderson

I enjoy making new professional acquaintances and corresponding with existing clients. Reach out if you want to talk, L2B, social media, construction, technology, shoes, dachshunds, popular culture or travel.

How to Negotiate a Raise….

posted in: General, How To 0

How to Negotiate a Raise….

 

So is there a right or wrong way to ask for a raise?

Well to be perfectly honest, I’m not the most rational thinker when it comes to this very delicate situation, and have never personally gone forth and requested a raise let alone negotiated one, but I’m pretty sure my method of blurting everything out in an email to my CEO, closing my eyes while I press send and then cringing until I receive a response is not the best way to go, for one it reeks havoc on your nerves and in some cases provokes sleepless nights and comfort eating.

The one thing I am positive about is this has to be one of the most awkward and uncomfortable situations you can find yourself in at the work place, so I started by finding some useful don’ts to get you on to the fast track to negotiating a salary increase.

Timing
Now get this right!
If your company is meeting targets, profit margin is looking good, expansion is viable, then by all means go and

 

“Risk it for the Biscuit”!

 

But…..If the talk around the water cooler is retrenchment letters have just gone out and there has been a mail sent out about saving on water and toilet paper then maybe, now is not a good time.

Finances
So you’ve decided to buy a house or a new car, or you are now unexpectedly expecting twins….
while this is all very exciting news and I’m sure your boss will be happy you are experiencing any one of these fun filled events… ultimately they have no bearing on whether or not you deserve an increase!

No Guilt Trips
So while trips are fun and we all like going on them, Guilt is not a trip anyone enjoys, so trying to send your boss on one is never a good idea!
And yes I understand divorces are expensive, your spouse losing his or her job is tough and having your 10yr old cat named Whiskers in and out of the vet is heart breaking…..
Once again this is not your bosses troubles, hardship doesn’t warrant an increase, that would be saying that your colleague who’s in a stable relationship, who’s partner is a top earner and who has no pets and who is ultimately a better employee doesn’t deserve an increase as much as you.

Increases are earned and are not handouts!

I’m sure most can agree that the above mentioned circumstances are generally the reason we start scrambling for more cash, so if you can now eliminate these reasons and you actually deserve an increase then go for it.

I suggest speaking to your HR manager first, find out if the timing is right, if it is then be professional with your approach, send an email requesting a meeting to discuss a revision of your salary.

In the meeting, look presentable, speak confidently and directly, have your ducks in a row, have a list of what you are putting into your current position, this would be great if it’s over and above what you were originally being paid for, whether it’s a case of targets being reached and blown out of the water, or overtime you constantly putting in without request or complaint.


If you feel you are truly not paid for your full worth, then sell it!


However, If your company is one that is good at recognizing your achievements and who compensates reasonably in the form of an increase on a yearly basis, then my personal advice would be to sit tight and have faith that once again you will receive the increase you so deserve!

But whatever you decide to do, I wish you all the luck ….. And let’s hope hard work is the winner in the end and you get what you are worth 🙂

 

 

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About Sherina Shawe

"You have to do everything you can, you have to work your hardest, and if you do, if you stay positive, you have a shot at a silver lining." from: Silver Linings Playbook.