A supplier should undertake a bid or no-bid decision process in order to determine whether to submit or not. Often the decision process is replaced by an intuitive gut-feeling decision i.e. no capacity, our competitor will win, no margin. The bid or no-bid decision process normally aims at the risks v benefits which are both ingrained to the final decision.
The purpose of implementing such a bid or no-bid process is to make it more reliable as part of a more general process improvement strategy. Ultimately this will work to better inform you of successful win rates (number of awards/number of submissions) and capture ratio (value of awards/value of submissions). Do you use a bid / no-bid decision checklist, matrix or flow chart? Any of these can be an opportunity to align with the company bidding strategy and enable you to make quick decisions – how much time have you wasted compiling bids for there to be an eventual no-bid decision?