Settings

Settings:

From the settings tab, the user can update a few key default RFQ controllers like the minimum reduction value by which the vendor can reduce the bid value, and the Vendor Rank Comparison value is used to not allow vendors to quote the same value. Negotiation Durations is the default auction time in the form of days, hours, and minutes that can be configured. 

The user is recommended to configure the time as per their regular auction requirement. The same can be overridden during the Scheduling of the auction.

These controllers are given to standardize the setup and eliminate the manual touchpoints in case if user wants to proceed with the default setup.

NEGOTIATION SETTINGS - The user can set bidding properties.

Min Reduction Amount - This is the Amount input given by the user where the Vendor can't reduce less than this amount during the bidding.

Vendor Rank Comparisons - This is the minimum price difference between Ranked vendors when the bidding is running.

Negotiation Duration - This is the Total Time for Bidding.

Last Price Filter – This defines the date ranges to which the system should refer to display the Last purchase price history of the product in Step 1 of the RFQ process.

Best Price Filter – This defines the date ranges which the system should refer to display the best purchase price history of the product in Step 1 of the RFQ process.