2. How to choose the Price Model
Choose the Price model for your RFQ.
Now you can select your Price Model
You can choose between 3 different pricing models.
A) Total Price
Suppliers offer a single price for the entire quote. This is a good choice that works for most RFQs.
B) Unit Price
In this price model you will specify the unit of measure (units, kilograms, liters, meters, cartons, etc.) and the quantity to be requested from your suppliers. They offer a price for each unit or measure.
In order to select any of these options, you must have selected between one of these price models: Total Price or Unit Price.
Suppliers will be able to see the position of their bid in relation to the ones of other suppliers. They can continue bidding until the RFQ due date, and therefore be able to offer a price that sets them as the best choice among the suppliers bidding in auction mode.