Populate Reference Bids

NOTE: This functionality is not yet available in 6.3 and later.

This page is accessed via Sourcing > Bid Creation > Project > Actions > Sourcing > Project > Populate Reference Bids.

The purpose of a reference bid is to create a cost to compare all bids against. The Populate Reference Bids action scans all sourcing shipments on each lane and computes either an average, median, or lowest cost to determine a reference bid for each lane. The resulting reference bids are stored as normal bids, but they are included in a bid round with a sequence number of 0.

Populating Reference Bids

1. Select the criteria you wish to use from the Criteria drop-down list. Possible criteria are:
   • AVERAGE_COST_PAID
   • MEDIAN_COST_PAID
   • LOWEST_COST_PAID
2. If you want to run the action in the background, accept the default of Yes for the Run Job in Background field. The server can time out while waiting for a result if the action is run in the foreground for a large data set. Hence, for large data sets, you need to run the action in the background.
3. Designate a contact in the Contact ID field if you selected Yes to Run Job in Background. When the action finishes, an email will be sent to the contact. Email notification is the only communication method even if fields are populated for other communication methods. There is no results page so the email notification is the only notification.
4. Click Populate Reference Bids to run the action.