Pricing and RFQ/ITT

ProcuremaX includes various methods to enable procurement personnel obtain prices for material and services. The most commonly used methods are using a price history, issuing an RFQ/ITT (Request for Quotation / Invitation to Tender) and by using a previously established parts priced contractual agreement (know as Vendor Agreements or Blanket Orders).

Price History

A review of purchase costs for the same part on past purchase orders. The systems have comprehensive facilities to support the use of part numbers and that then makes it straightforward to be able to locate identical parts on previous purchase orders. The user is presented with part number history information along with the supplier name, order date and delivery location and links to be able to access all historical order details.

RFQ / ITT

The system assists in the creation, issuing, tracking and subsequent comparison of Requests for Quotation and Invitations to Tender. An email facility is provided with the ability to attach a spreadsheet containing requisition items (material and services) so the vendors can enter their prices, delivery dates and other pertinent details. The priced / returned quotes are then received and imported back into the system. A comparison of the tender responses is then available which allows the preferred supplier to be selected for each item.

Blanket Orders / Vendor Agreements

A blanket order is a purchase agreement that outlines the details for repetitive purchases from a vendor, normally over an agreed time period. A blanket order will specify the supplier, materials and/or services, the delivery schedule, the pricing, quantities and other terms and conditions.

When items are required, they are "called-off" and a purchase order is created and subsequently processed in the normal manner. Blanket orders simplify and expedite the purchasing process and reduce the number of purchase orders. With pre-agreed contractual prices, budgets and forecasts are stabilised and project costs and forecasts made more accurate. They work as a cost reduction and profit improvement tool for both suppliers and customers.