You can create two different types of events in Sourcing Optimizer: a request for quotation (RFQ) event or an auction event.
The primary difference between an RFQ event and an auction event is that during an auction, all participating bidders are typically online at the same time. For an auction event, Sourcing Optimizer can therefore provide bidders with real-time feedback as bids are received.
However, RFQ events can last for weeks, and bidders are not typically all bidding at the same time. For an RFQ event, Sourcing Optimizer provides bidders with round feedback during the subsequent round.
Table 1 provides a summary of the differences between RFQ events and auction events.
Table 1. RFQ and Auction event differences
|
Feature |
RFQ |
Auction |
| Feedback | During subsequent round |
Real-time feedback |
| Evaluate step | Yes |
No |
| Award step | Yes |
No |
| Bid Decrement | Based on bidder's own lot bid | Based on: bidder's own lot bid; next-ranked lot bid; or first-ranked lot bid |
| Support for: |
|
|
| Bundle Bidding | Yes |
No |
| Capacity Limits | Yes |
No |
| Activity Point Tracking | Yes |
No |
| Evaluation Frequency | No |
Yes |
| Bidding Extensions | No |
Yes |
| Global Rank-Based Allocation | No |
Yes |