{"id":730,"date":"2020-05-01T11:20:22","date_gmt":"2020-05-01T16:20:22","guid":{"rendered":"https:\/\/www.resourcelabel.com\/healthcare-dev\/leverage-the-label-bid-process-to-get-better-value-minimize-risk-and-stay-competitive\/"},"modified":"2024-01-31T16:07:06","modified_gmt":"2024-01-31T22:07:06","slug":"leverage-the-label-bid-process-to-get-better-value-minimize-risk-and-stay-competitive","status":"publish","type":"post","link":"https:\/\/www.resourcelabel.com\/healthcare\/leverage-the-label-bid-process-to-get-better-value-minimize-risk-and-stay-competitive\/","title":{"rendered":"Leverage the label bid process to get better value, minimize risk and stay competitive"},"content":{"rendered":"<style>.kb-row-layout-id730_54ebe5-cb > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id730_54ebe5-cb > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id730_54ebe5-cb > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:52px;padding-bottom:42px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id730_54ebe5-cb > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id730_54ebe5-cb > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id730_54ebe5-cb > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id730_54ebe5-cb alignfull has-blue-background-color kt-row-has-bg wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column730_62e93d-f9 > .kt-inside-inner-col,.kadence-column730_62e93d-f9 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column730_62e93d-f9 > 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.kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:760px;margin-left:auto;margin-right:auto;padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id730_92676a-33 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id730_92676a-33 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id730_92676a-33 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id730_92676a-33 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column730_deeb83-02 > .kt-inside-inner-col,.kadence-column730_deeb83-02 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column730_deeb83-02 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column730_deeb83-02 > .kt-inside-inner-col{flex-direction:column;}.kadence-column730_deeb83-02 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column730_deeb83-02 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column730_deeb83-02{position:relative;}@media all and (max-width: 1024px){.kadence-column730_deeb83-02 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column730_deeb83-02 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column730_deeb83-02 inner-column-1\"><div class=\"kt-inside-inner-col\"><div class=\"taxonomy-category has-text-align-center wp-block-post-terms\"><a href=\"https:\/\/www.resourcelabel.com\/healthcare\/category\/label-basics\/\" rel=\"tag\">Label Basics<\/a><\/div>\n\n<h1 class=\"has-text-align-center wp-block-post-title\">Leverage the label bid process to get better value, minimize risk and stay competitive<\/h1>\n\n<div class=\"has-text-align-center wp-block-post-date has-text-color has-gray-dark-color\"><time datetime=\"2020-05-01T11:20:22-05:00\">May 1, 2020<\/time><\/div><\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id730_1aeb99-fd > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id730_1aeb99-fd > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id730_1aeb99-fd > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id730_1aeb99-fd > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id730_1aeb99-fd > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id730_1aeb99-fd > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id730_1aeb99-fd alignfull has-blue-background-color kt-row-has-bg white-bg--half wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column730_264ebd-f7 > .kt-inside-inner-col,.kadence-column730_264ebd-f7 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column730_264ebd-f7 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column730_264ebd-f7 > .kt-inside-inner-col{flex-direction:column;}.kadence-column730_264ebd-f7 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column730_264ebd-f7 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column730_264ebd-f7{position:relative;}@media all and (max-width: 1024px){.kadence-column730_264ebd-f7 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column730_264ebd-f7 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column730_264ebd-f7 inner-column-1\"><div class=\"kt-inside-inner-col\"><figure class=\"flex flex-center wp-block-post-featured-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"470\" src=\"https:\/\/www.resourcelabel.com\/healthcare\/wp-content\/uploads\/sites\/2\/2024\/01\/RLG-Label-Bid-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.resourcelabel.com\/healthcare\/wp-content\/uploads\/sites\/2\/2024\/01\/RLG-Label-Bid-1.jpg 1024w, https:\/\/www.resourcelabel.com\/healthcare\/wp-content\/uploads\/sites\/2\/2024\/01\/RLG-Label-Bid-1-300x138.jpg 300w, https:\/\/www.resourcelabel.com\/healthcare\/wp-content\/uploads\/sites\/2\/2024\/01\/RLG-Label-Bid-1-768x353.jpg 768w, https:\/\/www.resourcelabel.com\/healthcare\/wp-content\/uploads\/sites\/2\/2024\/01\/RLG-Label-Bid-1-320x147.jpg 320w, https:\/\/www.resourcelabel.com\/healthcare\/wp-content\/uploads\/sites\/2\/2024\/01\/RLG-Label-Bid-1-960x441.jpg 960w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id730_f59c0d-0c > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id730_f59c0d-0c > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id730_f59c0d-0c > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);max-width:790px;margin-left:auto;margin-right:auto;padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id730_f59c0d-0c > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id730_f59c0d-0c > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id730_f59c0d-0c > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id730_f59c0d-0c alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column730_010a01-f4 > .kt-inside-inner-col,.kadence-column730_010a01-f4 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column730_010a01-f4 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column730_010a01-f4 > .kt-inside-inner-col{flex-direction:column;}.kadence-column730_010a01-f4 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column730_010a01-f4 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column730_010a01-f4{position:relative;}@media all and (max-width: 1024px){.kadence-column730_010a01-f4 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column730_010a01-f4 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column730_010a01-f4 inner-column-1\"><div class=\"kt-inside-inner-col\">\n<p class=\"wp-block-paragraph\">The packaging procurement process is not one-size-fits-all \u2014 not even close. It\u2019s an amorphous process that varies by your brand\u2019s size, label spend profile, industry segment and about every other factor imaginable. As such, there\u2019s very little advice on label RFIs and RFQs that applies to every situation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Large brands, for example, often cast a wide net with their RFI, and parse through responses with a fine-tooth comb. Only after a comprehensive RFI will they ask a select shortlist of suppliers to submit pricing information. Meanwhile, midsized brands with smaller procurement departments often cut straight to the quote, asking suppliers to submit pricing on a set number of label products.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.resourcelabel.com\/wp-content\/uploads\/2020\/05\/Career-Opportunities2.jpg\" alt=\"\" class=\"wp-image-6530\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">And each industry segment prioritizes label services and products differently. <a href=\"https:\/\/www.resourcelabel.com\/demand-these-6-things-from-your-pharmaceutical-label-supplier\/\">Pharmaceutical<\/a> and nutraceutical companies care deeply about quality assurance and traceability. Food brands require inventory management programs that allow them to respond flexibly to sudden changes and shifts in product demand. Brands in each of these segments will therefore need to ask different questions on their RFI.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But for all their differences, there is one thing all brands want out of the label bid process \u2014 they want to find the label vendor that offers the best value and service.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s how:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Rethink how you\u2019re approaching your label bid<\/li>\n\n\n\n<li>Define your goal: Lowest price or highest value<\/li>\n\n\n\n<li>Add one question to your RFI<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">1. Rethink how you\u2019re approaching your label bid<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">On its surface, sourcing packaging might seem like an obstacle course comprised of one corporate hoop (RFIs) after another (RFQs) after another (supplier selection). At least, that\u2019s how many brands approach it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you, too, think of the RFI\/RFQ process as simply fulfilling a corporate requirement, you\u2019re approaching it wrong.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Putting your labels out to bid is a massive opportunity to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Realize savings by consolidating suppliers and label orders<\/li>\n\n\n\n<li>Minimize risk in your label supply by establishing an inventory management relationship (or improving your existing one)<\/li>\n\n\n\n<li>Obtain more competitive pricing by leveraging your brand\u2019s increased label spend, especially if you\u2019ve acquired new companies or grown significantly in recent years<\/li>\n\n\n\n<li>Stay competitive by exploring new label technology<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Still, most brands approach the RFI\/RFQ process with the sole goal of securing better pricing for the labels and services they\u2019re <em>currently using. <\/em>And as the saying goes, if you do what you\u2019ve always done, you\u2019ll get what you\u2019ve always got.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Define your goal: Lowest price or highest value<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve established that the bid process is full of opportunity \u2014 but it\u2019s up to you whether to seize it. With that in mind, you need to think critically about what it is you\u2019re trying to achieve before initiating the RFI\/RFQ process:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Are you only trying to get better pricing?<\/li>\n\n\n\n<li>Or are you also trying to discover label products and services that are more effective than the ones you\u2019re currently using?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re only trying to get better pricing, then pull up the RFI spreadsheet you\u2019ve used in the past and send it out to your list of potential label suppliers. But if you\u2019re looking to get the most out of this process, then you\u2019re going to have to rethink what you\u2019re asking for in your RFI.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Add one question in your RFI<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">To make sure your chosen supplier meets your procurement standards, you\u2019ll have to ask all potential label suppliers questions like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How do you support key accounts?<\/li>\n\n\n\n<li>How many plants do you have?<\/li>\n\n\n\n<li>What quality systems do you have in place?<\/li>\n\n\n\n<li>If we award you this contract, <a href=\"https:\/\/www.resourcelabel.com\/value-of-looping-your-label-printer-into-the-big-picture\/#recommendations\">how will you deliver year-over-year cost savings<\/a>?<\/li>\n\n\n\n<li><a href=\"https:\/\/www.resourcelabel.com\/value-of-looping-your-label-printer-into-the-big-picture\/#risk\">How will you prevent disruption in our label supply<\/a>?<\/li>\n\n\n\n<li>How do you manage procurement with your material suppliers?<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">These questions are a good start, and most of the RFIs we come across ask them in some form. But to achieve your goal \u2014 getting the most value out of the label bid process \u2014 you\u2019ll have to ask one more:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>What changes to our label services or products would you recommend to help us capture value and drive efficiency? <\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Asking this one question forces potential suppliers to take a holistic look at your label spend and find ways to mold their label and service offerings around your particular needs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We recently had a prospective client send out an open-ended RFI that asked us to help them reassess how they were approaching their packaging. Rather than filling out a spreadsheet, we regrouped as a team and thought about how we could leverage our labeling expertise to solve real business problems this brand was facing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We developed a plan with labeling and service solutions that would optimize product protection and tracking, accelerate testing and prototyping and drive consumer loyalty, among other things.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Of course, if you\u2019re going to ask this question, you\u2019re going to have to do the front-end work to gather the information (like the specifications and annual usage information for your current labels) that label suppliers need to identify value-creating opportunities in this way. You\u2019ll also have to give them ample time to come up with these solutions. But the end result will be well worth the upfront effort.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Use the label bid process to stay competitive<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The label bid process isn\u2019t just about <a href=\"https:\/\/www.resourcelabel.com\/custom-product-label-costs\/\" target=\"_blank\" rel=\"noopener noreferrer\">staying competitive with regard to pricing<\/a> \u2014 it\u2019s about staying competitive with regard to label technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And label technology has likely changed drastically since your brand last sent your labels out to bid. Smart labeling technology is ready for full-scale deployment today. It seems like new sustainable materials are being released every week. And digital printing is emerging as a key trend for brands large and small.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lean on your label supplier to guide you through the everchanging label technology landscape, and don\u2019t waste your label bid by doing it the way you\u2019ve always done.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Need further guidance about how to get the greatest value for your label spend? <a href=\"https:\/\/www.resourcelabel.com\/contact\/\">Reach out to our team today<\/a> to answer any questions you have about your particular labeling challenges.<\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id730_e32f36-cc > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id730_e32f36-cc > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id730_e32f36-cc > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:0px;padding-bottom:115px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id730_e32f36-cc > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id730_e32f36-cc > .kt-row-column-wrap{padding-bottom:60px;grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id730_e32f36-cc > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id730_e32f36-cc aligncenter gradient-vertical--blue wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column730_93d7a4-20 > .kt-inside-inner-col,.kadence-column730_93d7a4-20 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column730_93d7a4-20 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column730_93d7a4-20 > .kt-inside-inner-col{flex-direction:column;}.kadence-column730_93d7a4-20 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column730_93d7a4-20 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column730_93d7a4-20{position:relative;}@media all and (max-width: 1024px){.kadence-column730_93d7a4-20 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column730_93d7a4-20 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column730_93d7a4-20 inner-column-1\"><div class=\"kt-inside-inner-col\"><\/div><\/div>\n\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>The packaging procurement process is not one-size-fits-all \u2014 not even close. It\u2019s an amorphous process that varies by your brand\u2019s size, label spend profile, industry segment and about every other factor imaginable. As such, there\u2019s very little advice on label RFIs and RFQs that applies to every situation. Large brands, for example, often cast a [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","footnotes":""},"categories":[73],"tags":[89,93],"class_list":["post-730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-label-basics","tag-nutraceutical","tag-pharmaceutical"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Label Bid Process - RLG Healthcare<\/title>\n<meta name=\"description\" content=\"Follow this advice during the packaging procurement and label bid process to maximize value, minimize label supply risk and stay competitive.\" \/>\n<meta name=\"robots\" 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