You can create cost calculation formulas to evaluate supplier bids on the Cost Calculation page. You can have one primary cost calculation at a time, but multiple secondary cost calculations.
Cost calculation formulas are created using arithmetic operators, comparison operators, functions, and bid sheet columns.
Ensure that you set up your cost calculation using a formula column so that if needed, you can pause the round and edit the formula column to update the cost calculation. Once a round is launched, you will have to close the current round to update the cost calculation directly from the 'Cost Calculation' tab.
- Tabs: Switch between the Primary and Secondary cost calculation tabs.
- Display type: Select which format the result is displayed in — Number or Currency.
- Formula field: Enter your primary cost calculation formula in this field, or else use the buttons in the Formula area to build your formula.
- Formula area: Use the arithmetic operators, comparison operators, function buttons, and bid sheet columns to build your formula.
- Test formula area: Enter sample values in the fields and then click Calculate to test your formula.
You must create a cost calculation formula before you can publish your event. Ensure that your cost calculation does not evaluate to zero.
Use arithmetic operators to create mathematical expressions in your formula. Table 1 describes the arithmetic operators available for building formulas.
|-||Subtraction and negation|
Use comparison operators to compare values in your formula. Table 2 describes the comparison operators available for building formulas.
|=||Checks if two values are equal|
|>||Checks if a value is greater than another value|
|<||Checks if a value is less than another value|
|>=||Checks if a value is greater than or equal to another value|
|<=||Checks if a value is less than or equal to another value|
|<>||Checks if two values are not equal to each other|
Functions are predefined formulas. Table 3 describes the functions available for building cost calculation formulas.
|IF()||Tests for a condition.|
|AND()||Check if all conditions in a test are true.|
|OR()||Check if any conditions in a test are true.|
|MIN()||Returns the smallest number in a set of values.|
|MAX()||Returns the largest number in a set of values|
|SUM()||Adds all of the values in the argument.|
Returns the average of the values in the argument.
|MEDIAN()||Returns the median of the values in the argument.|
|ROUND()||Rounds a number to a specified number of decimal places.|
|ROUNDUP()||Rounds a number up, always.|
|ROUNDDOWN()||Rounds a number down, always.|
|CONCATENATE()||Joins text strings together into one string.|
|BIDDER()||Returns the bidder organization name.|
|ISBLANK()||Checks if a cell is blank and returns either TRUE or FALSE.|
Bid Sheet Columns
The Bid Sheet Columns area of the Cost Calculation page lists the columns from your bid sheet that you can use to build your cost calculation formula. You can only use bid sheet columns that have been configured as mandatory. Optional columns are not available when configuring a cost calculation.
Ensure that your cost calculation formula is not configured to equal a text input column.