BAFO: Best and Final Offer
What is a best and final offer strategy, and when might it be effective in Canadian procurement?
With the increasing complexity surrounding RFP strategies, the use of BAFO seems to invite further debate. How does it fit within the Contract A/B paradigm, and how might we use it with non-binding procurements?
This eSeminar will help to clarify the term BAFO, how it is being used, and explore where it could be applied to complement other strategies designed to create and preserve competitive tension. We will discuss the risks associated with BAFO as well as how BAFO can add value to an organization’s bottom line.
- Analyze the market conditions where BAFO is most effective
- Identify the steps within a typical BAFO process
- Review the nuances between clarification, negotiation and BAFO in an RFP
- Discuss the advantages of BAFO to increase value, as well as caveats on its use
- Recognize the resources required to get the most of this strategy
Jan 9, 2018
10:00 – 11:30 AM PST