Sourcing Process

Sourcing process include the below activities:-
1.Analyze
2.Develop
3.Qualify
4.Negotiate
5.Evaluate
6.Award
7.Monitor Performance 


The steps for Sourcing requirements Flow following Quotations and auctioning process :

1. Buyer creates an RFQ with RFQ Template .
2. Item Attributes ,relative scores ,weights for Bid Analysis , Supply Requirements (Delivery requirements, Packaging), Service Requirements (Part-level sequencing, Serialization), Related Costs (Freight, Tooling, etc.) , Pricing Structure (location based, time phased, etc.) , Technical and Commercial requirements are identified.
3. Suppliers are identified or all suppliers listed are added for the RFQ 
4. Set the starting and ending times and Specify Bidding rules
5. Review the RFQ and submit for approval , once approved it is published.
6. Published RFQ are available for suppliers to be viewed.
7. Supplier send acknowledgement to the buyers for the participation.
8. Suppliers creates quotes sand submits for buyer evaluation
9. Once all quotes are ready for evaluation the RFQ is closed
10. First buyers unlocks the technical requirements , then unseal it and completed the evaluation
11. Commercial requirements are unlocked and unsealed and then completed for evaluation.
12. After evaluation and analyzing By quote and suppliers , buyer awards by quote and line .
13. If target price is met the buyer completes the award , publishes the results and submits for creations of Standard or Blanket purchase order .
14. If Buyer's requirement is not met RFQ is cancelled and starts reverse auctioning which means suppliers would bid for the order.
15. Buyer creates an Auction same as RFQ identifies all requirements commercial, technical , pricing , cost factors etc.
16. Buyer then reviews and submits for approval and once approved pulishes the auction
17. Suppliers will get notified for the auction , once acknowledged , create Bids and submits the Bid.
18. Suppliers have the proxy bid feature where in online bidding monitor  would suggest for decrement of bidding rates according to the decrement criterias
19. Buyer Monitors the Auction and closes the Auction  once target price is met.
20. Collect and evaluate responses to award the contract or agreement, Analyze based on price, non-price and subjective factors and Make award decisions on basis of commodity / supplier strategy
21. Completes award and share decisions and  submits for creations of Standard or Blanket purchase order .