SayPro Track the performance of the submitted quotations

Tasks to Be Done for the Period: Week 4: Track the performance of the submitted quotations, gathering information on the outcome (won or lost)

1. Review the Status of All Submitted Quotations

• Task Description:
  Week 4 focuses on tracking the outcomes of all quotations that have been submitted to clients, determining whether they were won or lost. This process provides essential feedback on the success of the quotations and allows SayPro to assess the effectiveness of its quotation strategies.
• Steps:
  1. Compile a List of All Submitted Quotations:
     • Begin by creating a comprehensive list of all quotations that were submitted during the period (Week 1 to Week 3) and include relevant details such as client names, submission dates, quotation values, and associated departments.
     • Ensure that the list also includes any key contacts and the method of submission (email, client portal, etc.) for each client.
  2. Cross-Reference with SCMR-1:
     • Refer to the SayPro Monthly January SCMR-1 report to verify which quotations were submitted and track the status of each submission. This will ensure no quotations are overlooked or missing in the follow-up process.
     • Update any missing information, such as submission dates or method of communication, and ensure the SCMR-1 report is up to date with the latest submission details.

2. Gather Information on the Outcome of Each Quotation (Won or Lost)

• Task Description:
  The next step is to gather feedback from the client or internal teams to determine the outcome of each quotation. This will allow SayPro to assess the success of the bids and analyze why certain quotations were successful or unsuccessful.
• Steps:
  1. Contact Clients for Outcome Information:
     • Reach out to the clients who have received quotations to inquire about the outcome of their decision-making process. This can be done via email, phone call, or through client portals.
     • Ask clients directly whether they have decided to move forward with SayPro’s offer (i.e., won) or if they chose another vendor (i.e., lost). If they have chosen another vendor, request feedback on why the quotation was unsuccessful (pricing, timeline, solution, etc.).
  2. Track Client Responses and Feedback:
     • Record client feedback regarding their decision. Even if the quotation was lost, it’s valuable to gather insights into why SayPro was not selected. This information can help refine future quotations and bidding strategies.
     • For each client, document the outcome in the SCMR-1 report, including whether the quotation was won or lost and any key reasons provided by the client.
  3. Monitor Internal Feedback from Sales and Account Teams:
     • In addition to client feedback, engage with the sales, account management, and project management teams to gather internal insights into the outcome of the quotation. Sometimes internal discussions can provide additional context on the result of the bidding process.
     • Note any instances where the client communicated indirectly (e.g., the internal sales team heard about the outcome) and ensure that this information is recorded accurately.

3. Categorize and Analyze Quotation Outcomes (Won vs. Lost)

• Task Description:
  Once the outcomes have been gathered, it’s important to categorize and analyze them. This helps identify patterns in what leads to successful quotations and areas where improvements can be made for future bids.
• Steps:
  1. Categorize by Outcome:
     • Organize the submitted quotations into two categories: “Won” and “Lost.” This will make it easier to focus on the next steps based on the outcome and prioritize follow-up actions.
     • For each outcome, ensure the quotation details (client name, project value, submission date, and quotation content) are recorded for future reference.
  2. Analyze Success Factors for Won Quotations:
     • Review the quotations that were won to identify the key factors that contributed to their success. This could include competitive pricing, clear and comprehensive scope of work, strong client relationships, favorable payment terms, or unique value propositions.
     • Share successful strategies and tactics across the team to replicate winning approaches in future quotations.
  3. Identify Issues with Lost Quotations:
     • Review the lost quotations to identify any common trends or issues that may have contributed to the loss. This could involve pricing, timeline, terms, scope of work, or a better solution offered by the competitor.
     • Conduct a root cause analysis on why the quotations were unsuccessful. Are there patterns in certain industries, client types, or bid categories that tend to lose more often? This can inform how SayPro adjusts its future bidding strategies.

4. Update the SayPro Monthly January SCMR-1 Report with Final Status

• Task Description:
  To ensure the full tracking and transparency of the quotation process, the SayPro Monthly January SCMR-1 report must be updated with the final outcomes (won or lost) for each quotation. This step ensures that everyone involved has up-to-date information on the status of the quotations.
• Steps:
  1. Update Status of Each Quotation:
     • For each submitted quotation, update the SCMR-1 report with its final outcome (won or lost) along with any additional notes regarding client feedback, internal comments, and other relevant details.
     • Include the date when the outcome was confirmed, and reference the specific sales or account manager responsible for the submission.
  2. Include Outcome Details and Client Feedback:
     • For lost quotations, include any client feedback or reasons for the decision. This feedback is valuable for analyzing and adjusting future quotation strategies.
     • Record any significant details that may affect future bidding processes, such as changes in pricing strategy, revised timelines, or required adjustments in the scope of work.
  3. Ensure Consistency and Completeness:
     • Double-check that all submitted quotations are accounted for in the report and that no quotation is left out. The SCMR-1 should reflect the complete picture of quotation performance for the period.

5. Conduct a Team Meeting to Review Quotation Performance

• Task Description:
  After gathering all feedback and updating the SCMR-1 report, it’s time to share the results with the relevant teams. This step ensures that there’s alignment across departments regarding the outcomes and that any lessons learned are shared.
• Steps:
  1. Schedule a Review Meeting:
     • Schedule a team meeting with key stakeholders, including the sales, finance, legal, and operations teams, to review the overall performance of the submitted quotations.
     • Ensure that both the “Won” and “Lost” quotations are discussed to uncover actionable insights from both outcomes.
  2. Present Performance Data:
     • Present the overall statistics, including the number of quotations submitted, won, and lost, as well as any patterns or trends that have emerged from the feedback.
     • Focus on the successful quotations and discuss why they were successful. Highlight strategies or factors that should be carried over to future bids.
  3. Analyze Lost Quotations and Discuss Improvements:
     • For the lost quotations, present any feedback received from clients and identify areas for improvement. Brainstorm ideas on how to address these weaknesses in future quotations (e.g., improving pricing strategies, refining the scope of work, enhancing client communication).
     • Discuss any competitive intelligence that could inform future bidding, such as competitor pricing or offerings.
  4. Implement Actionable Improvements:
     • Identify actionable takeaways from the meeting, such as revising pricing strategies, enhancing client relationship-building efforts, or fine-tuning the quotation review process. Assign responsibilities to team members to implement these improvements for future quotations.

6. Document and Track Continuous Improvement Actions

• Task Description:
  To ensure continuous improvement in the quotation process, it’s important to document the changes or improvements decided upon during the review meeting. This helps track progress and ensures that lessons learned are implemented moving forward.
• Steps:
  1. Create an Action Plan:
     • Based on the team meeting, create an action plan that outlines the specific improvements to be made in future quotations. This could include adjustments in pricing models, process changes, or training for sales teams.
     • Assign tasks and deadlines for each action item to ensure accountability and follow-through.
  2. Monitor the Effectiveness of Changes:
     • As new quotations are submitted in subsequent periods, monitor whether the changes and improvements lead to higher success rates and more competitive bids.
     • Regularly update the SCMR-1 report with new results to track the impact of any implemented improvements.
  3. Share Best Practices Across Teams:
     • Share successful strategies and key lessons learned with the entire SayPro team, ensuring that best practices are adopted across all departments involved in the quotation process.

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Expected Outcomes for Week 4:

• Performance Tracking: All submitted quotations have been reviewed, and their outcomes (won or lost) have been confirmed and documented.
• Comprehensive Feedback: Feedback from both clients and internal teams regarding the success or failure of quotations has been gathered, categorized, and analyzed.
• Updated SCMR-1 Report: The SayPro Monthly January SCMR-1 report has been updated with the final status of each quotation, including any relevant client feedback and internal comments.
• Team Insights: A meeting with key stakeholders has been held to review the performance of the quotations, and actionable steps for improvement have been outlined.
• Continuous Improvement: An action plan for future improvements to the quotation process has been created, with clear responsibilities assigned to ensure ongoing refinement and success.

This week is focused on closing the loop on the quotation process, reviewing performance, and learning from the outcomes to drive continuous improvement in SayPro’s bidding strategies.