In this Blog, we will see how we can use the Vendor Bidding workspace on vendor collaboration.
Scenario for this will be when company create RFQ and sends to vendor for response. Now this process is manual or through email, now all this can be managed though the vendor collaboration portal itself.
Let’s start with the process:
Overall Process :
Step-1: Create New RFQ in Finance and Operation
Step-2: Add Line items, Vendors and Send for Bidding in Finance and Operation
Step-3: Now, Vendor will login to Vendor Collaboration portal
Step-4: View Bid Invitation and work with Bid and Submit/Decline
Note: Vendor can choose to Decline or Bid to the invitation, in this example let’s say vendor chose to Bid
Step-5: Receive Response in Finance and Operations and Compare
Note: Now we can Accept/reject or return for some changes, in this example let’s say we return for some changes
Step-6: Vendor can view the returned Bid and Resubmit again
Step-7: View the Resubmitted response and take action
Lets say this time we accept
Step-8: Vendor can view awarded Bid on vendor collaboration
That’s it for this blog, will be back with next blog soon.
Thank You !!! Keep reading and sharing !!!