Tendering Functionality in ORACLE
Hello Everyone,
Can any one let me know do we have any solutions for tendering functionalities in Purchasing module.
We have a client requiring this functionality their business practices are that they invite tenders for purchasing of goods and services more than the amount of 25k.
After inviting tenders they receives tenders from suppliers and evaluate them by technical proposals and financial proposals.
Regards,
Israr
In Management we use 3
In Management we use 3 different terms for the similar business process
1. Request for Proposal (RFP) – mostly used for services
2. Request for Quotation (RFQ) – for manufacturing when you know what exactly you want
3. Request for Information – you know the basic requirements but don’t have much details of what exactly you want and how to get that
Now for all these in oracle procurement we can use RFQ.
The basic processes are :
1. Send the RFQs to the suppliers with your requirement
2. Supplier sends their quote (or bid)
3. You do the quote’s analysis (bid analysis)
4. Selects the best bid and create a purchase order against that