Adding Target Prices to Your RFQ in Buymanager: A Guide

Imagine you're buying something, and you have a specific price in mind that you'd like to pay. A Target Price in an RFQ (Request for Quotation) is exactly that! It's a price you communicate to your potential suppliers, letting them know your desired cost for an item.

• What it is: A specific price point you aim to achieve for an item within an RFQ.
• Why you need it:
  • Better Prices: It helps suppliers understand your expectations, encouraging them to offer more competitive bids closer to your target.

  • Clear Communication: Provides clear guidance to suppliers, potentially reducing back-and-forth negotiations.

Who can use this & What you need (Pre-requisites)

This process involves two main roles:

• For Administrators (Admins): You'll need access to the Buymanager Templates to check and configure RFQ templates. This ensures the "Target Price" fields are available for users.
• For Users/Buyers: You'll need access to Buymanager Deals and the ability to create or edit RFQs. This is where you'll actually enter the target prices.

How It Works: Step-by-Step Guide

To successfully use Target Prices, we'll go through two main parts: first, an admin check to ensure the feature is ready, and then the buyer's steps to add the prices.

Part 1: Admin Setup – Ensuring the Target Price Field is Visible

(For Buymanager Administrators)

Before buyers can add target prices, an administrator needs to ensure that the relevant fields are active in the RFQ template. This is a quick check to make sure everything is set up correctly!

1. Open Buymanager: Launch your Buymanager application.
2. Navigate to Deals: From the main menu, go to the Deals section.
3. Access Database Tab: In the header menu, locate and click on the Database tab.
4. Select RFQ Template: From the options under the Database tab, choose RFQ template.
5. Open the Default Template: Open the default RFQ template 

6. Go to RFQ Section: On the left-hand panel within the template editor, click on RFQ.

7. Verify Target Price Fields: Look for the following fields to ensure they are present and configured:

• RFQ : Target price currency
• Target price in currency (without coef) 
• RFQ : Target price main currency (with coef for negociation)

(You don't necessarily need to make changes unless they are missing or incorrectly configured, but it's good to confirm their presence!)

8. Save Your Template: After verifying (or making any necessary adjustments), remember to save your RFQ template to apply the changes.

 

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Part 2: User/Buyer Action – Adding Target Prices to Your RFQ

(For Buymanager Users/Buyers)

Once the admin setup is confirmed, you can easily add target prices when creating or editing your RFQs. This is where you'll communicate your desired prices to suppliers!

1. Open Your Deal: In Buymanager, navigate to the specific Deal you are working on.
2. Go to RFQ Steps: Within your deal, proceed to the RFQ steps.
3. Create or Open an RFQ: Either create a new RFQ or open an existing one that you wish to modify.
4. Navigate to Items: On the left-hand panel of the RFQ screen, click on Step 1. Items. This is where you manage the items included in your RFQ.
5. Locate Target Price Column: In the table displaying your items, look for a column labeled "Target price" and "target price currency" 

6. Display Column (if not visible): If you don't see the "Target price" column, don't worry! Simply right-click anywhere on the table's header row. A menu will appear, allowing you to select and display the "Target price" column(s).

   
   
   
    

7. Enter Your Target Prices: Now you can manually enter your desired target price and its corresponding currency for each item. Just click into the cell and type! You can also select multiple cells, right click and select "key in a value: Target price" to add a price to the select lines. 

Important Note: Currently, target prices can only be added manually for each item. There isn't an automated process to integrate them in bulk from a BOM or other sources.