Understanding Bid Analysis
After you have received bids in response to sourcing events, you can begin the bid analysis process. This process may include:
Award splitting.
Multiversion and multiround events.
Analysis collaboration.
PeopleSoft Strategic Sourcing enables you to analyze responses from bidders.
You can analyze bids at any time during an event, or you can wait until it ends. In the case of a sealed RFx event, you must wait until the end of the event to analyze and award the event. If the event is an RFx event, you can change weightings to test what-if scenarios to determine how changing the weighting of bid factors affects the bidders' scores.
When analyzing events, you can sort the information using different criteria. For example, you can sort by highest score, lowest price, or lowest total cost to display the best bid.
You can filter out identical bid factor responses during bid analysis. This enables you to expedite the analysis and negotiation processes by viewing only those bid factor responses that differ across all the bidders.
When the event closes, evaluate the bid responses and award the event to the best bidder or bidders. PeopleSoft Strategic Sourcing enables you to break down awards to the line level and award by quantity or by percentage to one or more bidders per line.
If you are using constraints, these constraints can automatically default onto events and are used during the optimization process to determine an ideal award allocation, while adhering to the constraints. Edits are also performed when awards are posted to check that mandatory constraints are adhered to. This ensures that sourcing business policies are followed. You can also calculate the cost of a constraint to determine the financial impact of business policies as well as see the progress to date for global and business unit constraints.
If you are using the optimization tool, you can also request that the system recommend an ideal award based on lowest price, lowest cost, or highest score. You can compare different recommended awards to see how the award allocation differed.