Price Type Quotation Submission in PRM360 Tool : PRM360 Tool UI is very user friendly. You will hardly take 2 minutes to understand and become ready for your quote.
There are two ways you can reach this page :
Option 1 : Leads - My Leads - Title - Click on the Title
Option 2 : Go To EMail - Open the eMail communication received - Click on View Requirement (refer image below)
Understand Quote Submission (refer image below): Negotiation Details, has four sections
Section 1: Req ID and Title
Quotation Freeze Time : Quote is Due by mentioned timeline, you must submit the quote on or before the mentioned time
Expected Negotiation Start Time : Live negotiation participation ( you receive a separate eMail for participation)
Requirement Posted in INR: INR represents the currency buyer has posted the requirement in INR currency (it may differ in case of international bids)
Requirement version: if buyer has made any changes in the Requirement after posting it. (click on
the clock next to the number, it will open an audit report)
Revision Comments: Revision comments
Section 2: Quotation Inputs
Note : It is strongly recommended that you review the Disclaimer and the Specifications including payment terms and the delivery terms shared by the Purchase team before submitting the quotation.
You take action in this section. Almost all the fields in this section are required to be filled. Let's carefully understand this section
In the above image you only see one item. What if there are 20+ items? We will tell you what to do. In PRM360 tool we have tried to keep it easy and user friendly hence provided Excel Upload option (we have that covered in a separate article).
Note : Make sure you select INCO terms and Currency in order to download the Excel File Template.
Currency : Select the preferred currency to move forward to submit the quotation.
INCO Terms : INCO terms , a widely-used terms of sale, are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specifies who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities.
Note: The basis of GST, Currency and INCO terms, the system would display all the fields in the quotation form in Pink Color, where you will input the prices and other required details to submit the quotation.
IGST/CGST/SGST: Enter either SGST, CGST or IGST. (Mandatory for India Origin user with GST registration and currency selection is INR)
Regret: User can regret (can't complete the product requirement) request the product quote by mentioning their respective reason. Regret Comments: Upon checking the Regret options, system enables the Regret comments section to allow users to mention the reason for regret.
Shelf Life/ Extra Properties / Remarks: Enter additional information if any that needs to be communicated to the buyer
Quotation Status: Display the status of the quotation at the product level (when multiple products). Buyer can approve/reject individual products as well. All the rejected products rejection comments are displayed beside the Quotation status for user to review and make the necessary correction.
Description Table: Enter the specifications, technical information etc. as requested by the buyer for better quote evaluation.
Insurance Charges/Packaging and Forwarding Charges/Miscellaneous Charges/ Freight charges: Enter the charges, if any as per the INCO terms selection.
Warranty: By default its OEM (Original Equipment Manufacturer products are sold by the manufacturer based on the buyer's specifications)
Price Validity: The period of time for which a tender will remain open for consideration and acceptance by the Buyer.
Comments: Any details you want to share with buyer.
Delivery Terms: The delivery terms define the agreements with the business partner concerning the way the goods are delivered. User can review delivery terms, delivery location, contact details (purchase team)
Payment Terms: Payment terms are the conditions surrounding the payment part of sale, typically specified by the seller to the buyer. Payment terms provide clear details about the expected payment on a sale.
Quotation Attachments: User can attach files (pdf, word, images etc.) as a supporting document to quotation if any (maximum size is 6 MB)
Note: Review the Quotation before submitting. If ready to submit please check mark the box "I Acknowledge" and click on Generate & Submit Quotation.
Section 3: Delivery Terms (Prefilled by the buyer): This is FYI section for supplier
Timelines: Prefilled by the buyer if any
Contact Details: Details of the contact person who can be contacted in case of any questions wrt to the Quote
$ Payment Terms: Prefilled by the buyer if any (don't get confused with the $ sign)
Inco Terms: Prefilled by the buyer if any
Section 4: Negotiation Rules: This is FYI section for supplier
Quotation Freeze Time : Your quote must reach buyer the mentioned time
Expected Negotiation Start Time: Live negotiation to be held with the invited sellers only (you receive a separate eMail about the same if not please connect with buyer)
Negotiation Duration: Duration when you must be active and live on PRM360 tool to participate in the live negotiation.
Note: During Live Negotiation Inactive session on PRM360 tool will log out due to security reasons. You are recommended to stay active during that time. PRM360 support will take no responsibility of such inactive sessions and nothing can be done from support team.
Transaction Type : Price, means you need to bid in amount
Minimum Reduction Percentage: Blank when Transaction type is "PRICE"
Section 5: Posted On
Date and Time when requirement was posted
By: Name of the resource who posted the requirement
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Review the Quotation before submitting. If ready to submit please check mark the box "I Acknowledge" and click on Generate & Submit Quotation. If no error or input required you will get below message, (refer image)
and look just below Quotation Price in section 1(refer image below) you will see written Your quotation submitted to the customer.
Please check your eMail as you should have received a confirmation eMail (please refer below image)
Your Quotation has been successfully posted and buyer shall update on the next steps through SMS/e-mail.
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Still have any question please contact, support@prm360.com or +917877360360 (09:00 am - 07:00 pm IST, Mon - Fri)
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