A Comprehensive Analysis of RFP Practices in the Beverage Industry Presented October 23, 2024
NEW YORK, Sept. 17, 2024 (GLOBE NEWSWIRE) — Questex’s Vibe Conference today unveils the Vibe Conference Pulse of RFP Practices, an index report that offers an in-depth analysis of the Request for Proposal (RFP) practices within the beverage industry. This report provides invaluable insights into the current trends, strategies, and benchmarks that are shaping the way beverage programs are sourced and managed across the industry.
The Pulse of RFP Practices report serves as an essential resource for industry professionals who want to stay ahead of the curve in a highly competitive market. By examining the latest RFP trends and best practices, the report equips beverage program managers and suppliers with the knowledge they need to optimize their approach, streamline operations, and secure better outcomes in their negotiations.
In the fast-paced world of on-premise beverage service, staying attuned to the best practices in RFP management is more important than ever. As beverage programs become increasingly sophisticated, the ability to effectively navigate the RFP process can be the difference between a successful partnership and a missed opportunity. Tracking RFP best practices not only ensures transparency and efficiency, but also fosters stronger relationships between suppliers and operators, leading to more innovative and profitable beverage programs.
The report surveyed more than 100 active beverage industry professionals and key findings include:
The typical concept sends out RFPs on an annual or quarterly basis.RFPs are typically issued to explore innovation or new solutions and to fulfill a need for new products or services.Most respondents struggle to define clear and specific RFP requirements and manage communications with vendors/suppliers.
Respondents also rated multiple criteria as important when determining the quality and competitiveness of an RFP response, with the most highly rated standard being alignment with RFP requirement/goals.
“We are proud to release the Vibe Conference Pulse of RFP Practices report. It provides critical insights into the RFP processes that shape the on-premise beverage industry,” said Tim McLucas, Vice President of the Hospitality Group at Questex. “As the industry evolves, understanding and adopting best practices in RFP management is essential for building strong, successful partnerships between suppliers and operators. This report not only highlights the latest trends and strategies but also serves as a valuable tool for anyone looking to stay competitive in the dynamic landscape of on-premise beverage service.”
The report will be presented by Ashley Bray, Executive Editor at Vibe and Questex, during a live webinar, “RFPs: Trends & the Path to a Better Process,” this October 23, 2024.
About Questex
Questex helps people live better and longer. Questex brings people together in the markets that help people live better: travel, hospitality and wellness; the industries that help people live longer: life science and healthcare; and the technologies that enable and fuel these new experiences. We live in the experience economy – connecting our ecosystem through live events, surrounded by data insights and digital communities. We deliver experience and real results. It happens here.
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