How to create a custom pricing schedule
When creating an RFQ you have the option to create a custom pricing schedule. Using a custom pricing schedule will require vendors to submit their rates against a list of items or services that you have specified.
Note: For an accurate price comparison between vendors against your budget, Felix requires each item to be priced individually within the pricing schedule. More detailed input here will translate to a more valuable price comparison down the track.
Create a custom pricing schedule
To create a custom pricing schedule:
- Under the Pricing Requirements section when adding a service, click the Create Pricing Schedule button
- (Optional) Enter the Forecast Period in the field provided
- (Optional) Enter the amount that has been forecasted to be spent on this service in the Current Forecast field
- (Optional) Enter the target amount to be spent on this service in the Current Target field
- (Optional) Enter the total amount of each line item added together in the Total Budget field
- To add a new line item, click the Add New Row button in the bottom right corner
- Enter the name of the line item in the Item field
- Enter any relevant details about the item in the Description field
- Enter the quantity of the item in the field provided
- Enter the Unit of Measure in the field provided (e.g. litre, cubic metre, amount, etc.)
- Tick the box beside Optional if vendors are not required to quote on this line item
- Enter the total budget allocated for this line item in the Budget field. If the budget rate is known, leave this field blank and Felix will automatically calculate the total
- Enter the budget for a single unit of this line item in the Budget Rate field. This field can be left blank if the Budget field has been used instead
- The Custom Identifier field can be used to list an internal identifier used by your organisation. This field is not shown to vendors
- Ensure the Active box is ticked if you want the line item to be visible to your vendors
- Repeat steps 6-15 for each line item that you would like to add
- If you would like your vendors to specify the quantity of items they want to quote on (For example, if they think you may need more or less of an item for the job), tick the box beside Allow vendors to modify suggested quantities. This will display in a separate column for your vendors and will not override the quantity input during RFQ creation
- Once all line items have been added, click the Save button
- After saving your pricing schedule, click the Close button
Note: Entering these optional figures will allow Felix to conduct quote comparisons between vendors. They are not mandatory and are not required to complete your pricing schedule. If left empty, the total budget will be calculated based on the total of each line item added.
Tip: The bars icon to the left of the column ID will allow you to re-order each line item by clicking and dragging it to the desired position.
Tip: As long as you save your changes, you can close the pricing schedule window at any time and return later to complete it.