The Price Change RFQs feature aims to streamline and enhance the process of managing and responding to price change requests from buyers or Suppliers. It provides an efficient system for suppliers to review, approve, or negotiate price modifications while ensuring transparency and accountability in the pricing process.
This feature let Buyers and Suppliers negotiate price changes of already agreed long term contracts due to reasons like industry trends, raw material price changes, inflation etc.
Menu path : Sourcing Events –> Price Change RFQs
The supplier can choose to view / submit quote. When the supplier selects submit quote, under the Items Tab, the Supplier will be able to find the list of items quoted for the price revision. Using the Download option the supplier will be able to make the quote revision
The quote revision method, quote revision direction, quote revision reason and quote payment term are drop down values. Once the details are filled the excel sheet can be uploaded. If there is no change in payment term the column can be left empty.
The Items data will be filled with the data populated from the excel file
If any further attachments required it can be added in the Attachments tab
The Summary tab provides the details of all the changes made in the quote
The Quote is then submitted for buyer acceptance
