Sentiss - Create RFP

CREATE RFP

Step-1: Requirement specifications:

TEMPLATE SECTION – Users have to select the template that they want to post the RFQ. TITLE – Name of the inquiry.

SIMILAR NEGOTIATION – Similar negotiation feature is used to see how many times a similar kind of requirement is posted in the system. Which helps in fetching the information such as the posted date and what was the least price we received. The search criteria are the text entered in the title box.

Based on the template selected users would have their respective RFQ item attributes displayed to initiate the required process for the products

The user would be searching the existing product codes in the system through the product code attribute of the template. The user once selects the existing products in the system.

Product Name, product No, UOM, HSN code, and Product description details are auto furnished on the screen for the user to update the quantity to add the item to the RFQ.

Users can also leverage the Actions button available in the item cart and can perform the below following activities:

MINIMIZE: To minimize the item frame.

ATTACHMENT: Use can add attachments related to the product.

BEST PRICE($): The user can click on the best price to retrieve the best price at which the PO was issued for the product as per the data ranges mentioned on the setting page of the My Account tab.

LAST PRICE (i): The user can click on the last price to retrieve the last price at which the PO was issued for the product as per the data ranges mentioned on the setting page of the M Account tab. It also shows the list of last purchase prices of the product along with the quantity, vendor, and the last purchase date of the product for the user to evaluate price points with respect to the product selected.

DELETE ITEM: The user can use this option to delete the existing product from the RFQ/RFP process.

ADD NEW QUANTITY: This option is to add multiple quantity details to the item to retrieve prices from the vendors for each price quantity requested. This is to avoid duplicate user activity of furnishing all details of the same item during the creation process.

ADD ITEM: To Add a new Item while posting a requirement.

LINE ITEM: The user can select different line items he wanted to add with respective charges. For Example: Packing & Forwarding charges, Insurance, Freight charges, and Miscellaneous. Users can configure the same products in the Catalogue under the category Requirement Items. All the configured line items would be displayed on the selection of line items.

REQUIREMENT COMMENTS: The user can share additional Comments/Information if needed to share with Vendors as part of the requirement process.

ATTACHMENT: The user can upload an image or any reference file with respect to the requirement. (File should be within the limit of 6MB).

SAVE AS DRAFT: saving incomplete requirements for future reference. The saved requirements can be accessed from my requirement page under Saved as Draft status.

There are 6 types of requirements as below. User can choose the requirement type as per their choice.

STEP 2 - DELIVERY & PAYMENT TERMS:

DELIVERY TERMS: User has to update the delivery terms information as per their requirement in the Delivery Terms field.

INCOTERMS: (International commercial terms) Incoterms are standard terms buyers and sellers use in international and domestic trade contracts to decide who will bear what charges between both.

PAYMENT TERMS: Mode of the payment information or anything in related to payment.

CONTRACT: If you want the particular product or the RFQ to be in period of time for the same amount/price then you select the contract and mention the dates manually which would be notified to vendor.

DEPARTMENTS: User would be able to view the list of the departments he is assigned in the system. User has to check box the department for which RFQ is posted. Department selection is to provide visibility of RFQ to that specific department and only the users in the respective department would have the access to view this requirement.

STEP 3 - TRANSACTION CONFIGURATION:

Through this option in the RFQ process, PRM360 helps users in automating their follow-up activities for quotation follow-ups with the vendors.

For any requirement posted, the user can select the transaction urgency by selecting critical, High, Medium, or Low status.

Which will be known to the vendors. Urgency Requirements are based on the customer requirement closing time.

Critical: Will be closed on the same day.

High: Will be closed in two days.

Medium: Will be closed in 3 days.

Low: Will take 7 Days.
 

Currency - Select the currency in which the transaction should happen.

Quotation freeze time - Total time given to vendors to upload quotation. Vendors should submit the quotation before quotation freeze time.

No of remainders (Max 5) - Number of reminders which system will automatically send to the vendors who has not uploaded the quotation.

Max allowed remainders are 5 as per requirement.

Time interval (In hours) - Time gap for sending each reminder to vendors for quotation upload based on the quotation freeze time. If it is 1 hour, then automated email remainder would be sent to vendors at every 1 hour interval before the quotation freeze time.

Expected Negotiation time - Expected start time of auction. This option is used to intimate vendors on the possible time for auction. This would help vendors to keep themselves available in advance.

Quotation Price Limit - By default this is always ‘No’, but if user wants to restrict vendor only till certain quotation amount, he can click ‘Yes’ & give a quotation limit, by this vendor cannot quote beyond this quotation limit.

Technical Score - [pending] Reduction Type - Two types of reductions are available, ‘Price’ & ‘Discount’, User can set any one, vendor has to reduce his amount accordingly.

Watchers - By this one can add other users also who needs to know about the creation of that requirement. Also, by default the users with the same department would be able to access or view the requirement that would be posted.

STEP 4 - VENDOR SELECTION:

The first half of the screen shows the list of vendors displayed based on the items selected in the step 1 of the RFQ creation. These vendors are shortlisted based on their historical transaction data of the item. User can choose vendors from this list or in the second half user is given an option of filtering vendors based on the category linked to that item.

Category - Category Selection to display the existing vendors of a particular category. Note: Once a new vendor is added to the RFQ and posted requirement for an item, from the next instance the newly selected vendors would be displayed under item mapped vendors list.

Search Vendors on the top - This is Global search, irrespective of the category of an item, user can search any existing vendor in this field.

Add new vendor - User can also add a new vendor directly in step 4 of an RFQ.

Price Range - It shows the minimum and average price of that particular item which was posted earlier based on the earlier transactions.

Minimum Quotation date - Based on previous transactions for that vendor, what minimum estimated duration the vendor generally takes to submit the quote is shown here.

Maximum Quotation date - Based on previous transactions for that vendor, what maximum estimated duration the vendor generally takes to submit the quote is shown here.

Send Email to all vendors - On clicking this check box, intimation mails about the requirement to vendors selected in the requirement gets triggered & vendors receives emails about the requirement posted.

Note: Once a new vendor is added to the RFQ and posted requirements for an item, from the next instance the newly selected vendors would be displayed under the item mapped vendors list