Identifying Member Needs (avg. time: 1-6 months)
Develop bid strategy. Gather information to prepare bid that includes, but is not limited to, defining the product category and specifications, market assessment and market research.

Bid Development & Analysis (avg. time: 4-6 months)
Activities that occur during this time include, but are not limited to,

• Obtaining input on decision criteria and final product and performance specifications,
• Sending out the bid
• Quiet Period – typically 30 days
• Public bid opening (bids are no longer accepted after the bid return date)
• Bid analysis and comparison of non-financial terms
• Financial analysis and comparison

Clarification & Decision Making (avg. time: 2-6 months)
Activities that occur during this time include, but are not limited to,

• Clarify terms and conditions on bid responses with suppliers
• Determining low best bid, based on decision criteria award matrix formula
• Obtaining member input on bid responses and low best bid decision
• Final clarification of outstanding issues. Examples: legal, bid requirements, reporting, marketplace@Vizient

Finalizing the Award & Agreement Launch (avg. time: 1-3 months)
Activities that occur during this time include, but are not limited to,

• Preparation of legal and administrative documents
• Develop and finalize Launch Package
• Contract approval process
• Enter agreement information into Vizient systems

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