ABOUT FORMULA RAIL
Formula Rail delivers the platform, conditions and expertise for enabling procurement of new and innovative supplier solutions
Formula Rail is simply a smarter way for buyers and suppliers to work together to source the best performing and best value ideas, products and services.
Advantages for Buyers:
- Pre-tender, the Formula Rail team casts a critical eye over a buyer’s design spec, supplementing the original design with a rich tapestry of buyer interests and aspirations. This encourages suppliers invited to dialogue with the buyer to propose more innovative content
- The Formula Rail platform provides the buyer with an online canvas for visually exploring (building, testing, refining and shortlisting) innovative supplier proposals
- The Formula Rail team serves as independent mentor, coach and innovation champion for buyers and suppliers during the design and optioneering phases (pre-commercial procurement)
Advantages for Suppliers:
- The Formula Rail platform hosts supplier sales canvases, private online spaces for suppliers to create compelling sales and solution portfolios, containing ideas, white papers, case studies and product specifications. Portfolio content is used to support buyer proposals during early dialogue with the buyer
- Suppliers engage with buyers earlier in the design process, providing more scope for the buyer (facilitated by Formula Rail) to assess and consider untried/untested ideas, materials, technologies and products, which may offer significantly better performance than incumbent solutions
- Successfully tested the platform functionality in a live environment (2016 Innotrans Innovation Challenge) with the International buyer community
- Working on a number of pilot projects with Network Rail
- In negotiation with a number of other large rail procuring organisations and main contractors
- Refining the supplier value proposition…
We would like to know what you see as the challenge to doing business within the sector.