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Oracle Sourcing


Negotiations Using Request For Quotation (RFQ) Request For Information (RFI) Auctions

Oracle Sourcing is a complete and integrated global sourcing platform which allows buyers to optimize the supply base, reduce sourcing costs, improve supplier relationships, and source for best value.

Oracle Sourcing is the application that improves the effectiveness and efficiency of strategic sourcing. It is a key component of Oracle Advanced Procurement, the integrated suite that dramatically cuts all supply management costs.
Oracle Sourcing helps an Organization streamline the sourcing process with end-to-end business automation by providing an easy-to-use, web-based platform for both the buyer and the suppliers to conduct negotiations.

It also provides a complete online help system to provide answers to questions from both buyers and suppliers

Sourcing Features
With Oracle Sourcing, users can create reusable invitation lists (i.e. Suppliers Lists). Suppliers are classified based on some common characteristics i.e. Suppliers for Handsets, Suppliers for Batterys etc.

Negotiations Using Request For Quotation (RFQ)

RFQ: Request for Quotation Quotation: A response to a RFQ Styles of RFQ: Blind and Sealed Blind : In a blind auction or RFQ, only the creator of the auction or RFQ can see the bids Sealed: In a sealed auction or RFQ, the auction or RFQ creator cannot see the bids or quotations until the auction or RFQ is unlocked. The participants in the auction or RFQ cannot see the bids or quotations until the auction or RFQ is unsealed.

Request For Information (RFI)

Request For Information- RFI

RFIs are used for gathering information from Suppliers about goods and services.
In RFIs buyers can choose to define negotiation line items without price and quantity. Buyers can specify the lists of criteria to which suppliers must respond. For Ex: An Organization is trying to acquire a Purchasing Application. The level of product support a supplier can provide. The specific platforms the product can run on.

Request For Information- RFI- Contd

RFI can be taken for multiple rounds of information gathering. To take an RFI to a new round, it must first be closed. On the Negotiations Summary page, select Start New Round to be chosen from Actions menu.

Once the suppliers have been identified, the RFIs can be closed, and the information gathered can be used to create a RFQ or Buyers auction.

Oracle Sourcing allows buyers to conduct auctions for goods or services. A response to an auction is called a bid. Auctioners can chose whether to allow multiple rounds of bidding. Styles of auction: Open, Blind and Sealed

Auction Styles

In an open auction all Exchange members participating in the auction can see the bids in the auction, though the bidder identity is concealed. Open auctions encourage competition among bidders to submit the best possible price.

In a Blind auction only the creator of the auction or RFQ can see the bids.

In a sealed auction the creator cannot see the bids until the auction is unlocked. Participants in the auction cannot see the bids until the auction is unsealed.

Types of Bid

Proxy Bidding
Proxy bidding allows the Exchange to automatically re-bid on the bidder's behalf whenever a competing bid price beats the bidder's bid price within a set limit.

Power Bidding
Power bidding allows bidders to streamline their re-bidding when they have bid on several items in the same auction using power bidding, all of a bidder's bids (both losing and winning bids) in an auction will be improved by the percentage the bidder enters in the "Power Bid" field.