It is critical that EMS providers meet the RFQ requirements of customers and prospects. The quotes should be submitted fast and preferably ahead of those of competitors, thus setting the benchmark. The importance of fast, easy-to-understand and accurate quotes cannot not be overestimated.
Important for your customers.
Delayed quotes often cost your customer much more than you realise. In terms of the bottom line, have you ever wondered what a one-day delay in a product market introduction could cost?
It is a fact that many of your customers often do not meet the planned product introduction date, which is costly and frustrating. Additional delays caused by delayed quotes are therefore extremely annoying and can ultimately become very expensive. In some cases this could run into the millions!
Important for you as an EMS provider.
As a major supplier, you do not want to contribute to the problem of your customer's delayed time-to-market. Not to mention that you may be the cause of it. You want your customers to be successful. In the end, less business from your customer will influence your business.
But there are more direct effects when you do not meet your customer’s RFQ response times. They will start to put you under (a lot of) pressure. Alternatively, they will look more closely at competitive proposals and may even take unwelcome decisions.... The first quote received sets the benchmark!
To understand this in more depth, read our white paper about it.