You have heard about Forgeway’s technical package, but you have no idea what it is or whether you even need it. The technical package is unique to Forgeway, so you have likely started working with us already.
If you didn’t already know, here at Forgeway we have been manufacturing adhesives for over 25 years. Over those years, we have learned several valuable lessons. Out of those lessons, we developed our technical package.
This article will outline the definition of the technical package. It will then go through how it helps our business dealings. Finally, it will describe what we include in our technical package.
By the end of the article, you will know what to expect from our technical package. You will also know how it can help your business journey with us here at Forgeway.
What actually is the technical package?
The technical package is a multi-page document. It has all the details of the business arrangement in one place (we go into more detail about what we typically include later).
The technical package is very similar to a contract. However, the technical package isn’t legally binding. We also like to think it is much easier to understand than an official contract.
We would only create a technical package for larger, and more complicated deals. As a rule of thumb, deals that would be worth more than £200,000 per year are more complicated. Nonetheless, there are instances where smaller deals need a technical package.
There is no way we can tell how complicated a deal is going to be before we get stuck into it. But, if your order is above £200,000 in value then expect to receive a technical package.
How the technical package mutually helps our business dealings
The main benefit of having a technical package is that all the necessary information is in one place. So if there is any confusion about any parts of the deal, you can refer back to the technical package for guidance and direction.
Sometimes when working within large and complex deals, there are occasions when a critical member of the deal leaves. Even though you can replace that team member, it usually takes a while for the replacement to get up to speed on how the deal works.
The technical package gives all the information anyone would need if they wanted to get involved in the deal.
What we include in our technical package
We are doing our best to avoid the words ‘comprehensive’ and ‘detailed’ to describe the technical package. This section will go over what we would typically include in the technical package.
Specifics around pricing and lead times
You would have already agreed on the pricing and lead times earlier in the deal. We include this part in case there is ever any disagreement about what was agreed upon. You can just refer back to this part of the document and quickly see what was agreed upon.
Because of the state of supply chains at the moment, prices are obviously going to be subject to change. The technical package will also establish when the pricing reviews are due to take place.
Points of contact
Within every deal, there are always points of contact for the different parts. Any relevant contact within the deal will have their contact info in the technical package. It will also describe their job role and how they can help the deal.
Details around packaging
Business deals can get complicated when you involve custom packaging. All the details about the agreed packaging are within the document.
Minimum order quantities
Once again, both parties in the deal will agree on the minimum order quantity at the beginning of the deal. But we include this information in case any new team member(s) join and are unsure of the agreed minimum order quantity.
Paperwork and documentation
All relevant accreditations and policies etc also have their own section in the technical package. This is for any situation where you require the information, you know where it is and how to find it.
What next after the technical package?
Now that you know what a technical package is, you will want to establish what’s next for you. Firstly, you will only need to consider the technical package if the annual spend of the deal is going to be more than £200,000. There are, of course, exceptions to this rule.
Some complex deals will need to have a technical package that are less than £200,000. But we usually say £200,000 is the benchmark in which we would provide a technical package.
Now that you understand the technical package in more detail, you will want to know more about working with Forgeway. There may be a few surprises about us that you didn’t know.
We wrote an article that answers 80% of the questions our customers usually ask us. We recommend you read that article next.