After the event is published, the creator of the event can go to Sourcing —> Managed events and will find all the events created. The events will be shown following this logic: live, published, evaluation, awarded, canceled, and void, all by the more actual date.
If the user goes to Sourcing —> Scheduled Events —> Open events will find all the live events. When the created RFQ event reaches it starting time, it will pass from published to live events, and the buyer user can monitor and review events in the live console.
Step 1: Live console
While the event is live the user may monitor the event in the Live Console and perform certain actions such as, changing the price limits of lots, and inviting more suppliers. If the event is either public or private, while the event is live there is still a chance to send invitations.
In this first step, the user can review all the details of the RFQ: number and status of attendees. Here it is possible to invite more suppliers to submit quotes. There is also shown the time left for RFQ to end.
Finally, the user can monitor in real time the different responses being received while the event is live, from various suppliers. The user have the option to discard a submitted quote, by clicking on “discard response”. If a quote is discarded, it won't be part of the evaluation process.
It is important to remember that it is only possible to submit one quote per company, so if a quote is discarded this company will not have a chance to submit a quote again in that event.
Step 2: Compare and award
After the time frame for submitting a quote is finished, the event passes to evaluation status and the buyer can go to the compare and award step, in which all the sent quotes are listed and ordered by the best price and lot quantity offered. The buyer can choose the suggested option or any other that the user considers best to award.
In evaluation status, the buyer can also discard a quote unsuitable for the RFQ requirements.
It is important to double-check the awarded suppliers in different lots because once a buyer user selects an awarded supplier there is no chance of going back.
Step 3: Review
This is the final step of the Evaluation status, the buyer user can review and check all the information about the lots summary, the supplier(s) awarded, delivery options, payment, and terms and conditions.
The awarded supplier(s) will receive an email notification, communicating that the submitted quote has been awarded.
This is the final step of the RFQ, after this, the RFQ event is at awarded status and a purchase agreement is generated.
A purchase agreement is a formal document that establishes all the details and data of the event, such as lot and lot items information, delivery information (date, point, final destination) payment (agreed price, breakdown of costs, and summary), and terms and conditions.
An agreement is a consolidated, snapshot of data intended for long-term storage. It preserves all relevant details at the time of its creation, ensuring the integrity and persistence of data over time, even as the underlying components may change.
