When the opportunity comes along for your company to submit a bid on custom cable assemblies, the initial inclination is to think about what the project may be worth. In truth, this proverbial “cart before the horse” is problematic because it clouds just about all of the decisions you’ll be making in the bidding process.
Keep in mind that a request for bids is such that the company or organization needs to review submitted bids for more than just financial feasibility. They’re also checking to see if your company is rock-solid and can actually deliver the goods. Depending on the application, custom cable assemblies can be complex & manufacturing them correctly is something that not just anyone can do.
This, in turn, means that your submitted bid needs to be well-appointed and meet the standard set forth by the organization requesting proposals. The difficulty in this is the customized nature of the cable assemblies in question. Custom materials, by default, will vary between clients, so knowing how best to draft a bid can be confusing if not frustrating.
However, there are some things your custom cable assembly bids should always include:
General/Product Specs — An entity will request information about specific components & schematics to be approved by their governing bodies & per industry standards. Pay special attention to these details as requests for bids usually needs to meet stringent transparency guidelines.
Budget — The estimated price submitted in your bid needs to reflect an accurate representation of your ability to deliver materials like custom cable assemblies both on time & at the highest quality. While it has more to do with your role in the bidding process & not the actual bid to be submitted, it’s important to consider whether a project makes financial sense to take on.
It’s also important to think about whether a request for a bid provides enough information for you to give the best bid possible. This means you want to be able to ask questions to help clarify less-than-clear points. The easier it is to see what is at the heart of the bid you need to submit, the higher the quality of the bid. This clarity also makes it easier to consider another item to include in your submission — multiple options. You could submit a basic bid on providing custom cable assemblies, but if you gave the entity requesting bids more than one option, it could allow for a greater chance to be chosen. It showcases your ability to be flexible, able to adapt to almost anything if asked.
One of the more vital things any bid for custom cable assemblies (or any product for that matter) should include is maintaining the core of the bid proposal request from top to bottom. You may not think it, but many contracts are lost simply because bids are not submitted in a particular format, by way of specific channels, and missing/incomplete documents. Basically, if the entity feels you can’t follow directions at this initial stage, you’re not going to be a trustworthy partner later. First impressions go a long way.
Finally, and this is more of an introspective step, it’s important to make sure that any bid on custom cable assemblies includes as much thought as possible about whether a project is right for you. Get a full understanding of the project. Don’t make assumptions about certain details like finding out if material substitutions are acceptable. Take the time to get accurate measurements. Be sure to “carry the 1” & get your math right. Also, finding the right manufacturing partner is crucial to your bid success. Being confident in their ability to provide a stellar product on time and at the right price makes it easier to submit bids for various projects because you’re not pricing yourself into a hole or overselling subpar work.