Overview of Bid Analysis

The Bid Analysis module allows you to set up and print your bid specifications for vendors to submit their bid prices.  Then the system will analyze the bids to determine the best prices, and then assigns the bid to the vendor you choose. 

There are two methods provided for bid analysis: Bottom Line and Cost per Serving.  The vendors would need to be notified at the beginning of the process as to which method is being used to award the contract.  

• Bottom Line assumes that one vendor will be awarded the contract for all the items in the bid. Each vendor would be required to submit prices for all items; the vendor with the best overall total price would be awarded the contract for all items.

• Cost per Serving analyzes each item by dividing its unit cost by the number of servings.  Individual items can then be awarded to different vendors. 

 Here are the steps in the complete Bid Analysis routine:

1. Create/Print Bid establishes the bid dates and the specifications to send to the vendors.

2. Vendor Feedback enters the price information that the vendors return.

3. Analyze determines the best price.

4. Assign Vendor awards the bid. 

Shortcut for using Bid Analysis just to update prices

If you just need to update prices for a bid group, without doing a full bid analysis, you can still use the Bid Analysis routine to make the update easier. 

For example, if all the prices in the Produce bid group are changing but all the vendor information remains the same:

1. Create/Print Bid creates a new bid that includes all the affected items and the effective dates for the price changes. You can use 1 as the BidQty for all items. Open it in Print Preview and mark it as Sent. (You don’t actually have to print it.)

2. Vendor Feedback creates a new vendor feedback (for that vendor only) and enter the new prices. You don’t need to enter Vendor ItemID, Servings, or Brand if they already exist in your Bid Price file.

3. Award Bid uses Bottom Line to update the bid prices.