The pricing schedule has two views - Original Quotes and Quote Analysis tab. The The Original Quotes tab allows you to see the raw quotes from vendors whilst the Quote Analysis tab allows you to:
Add financial and non-financial adjustments to normalise vendor quotes
Enter a comparison set of values for a vendor who has not quoted yet or quoted offline
In both views, you can use the Customize View link at the top left corner of the pricing schedule to do the following. These options can be used together.
Show totals only - You can only see row descriptions and totals; one column per vendor.
Shortlisted bidders only - You can limit the display to only vendors who have been shortlisted on the Vendors tab in the RFQ. All columns are shown for each vendor.
Quotes in original currency - (For multi-currency RFQs only) You can see the original currency that the vendor quoted. The default view is that all quotes are converted to base project currency.
You can also filter which vendors you would like to view on your end when comparing pricing schedules between multiple vendors by clicking the Bidders link at the top left corner of the pricing schedule.
Reviewing and analysing the pricing schedule
The following activities are typically performed when first reviewing a pricing schedule:
Review line item statuses - To understand whether a vendor has quoted , included or excluded items from the quote
(Where you have allowed vendors to propose quantities) Review proposed quantities - To understand differences in quantities that they see versus your estimates
Review pricing schedule overall budget variance per vendor - To identify any material differences between vendors' quotes for further investigation or adjustment
Review budget variance per line item per vendor - To identify trends or specific differences in a vendor's quote that might warrant investigation or adjustment
Review comments from vendors on rows - To identify context that requires further investigation or adjustment
The Budget variance at the top of the table is variance to pricing schedule budget, not to package budget from the RFQ and procurement schedule.
Line item row statuses
With the aid of these colour-coded visual cues, organisations can easily identify the status of each line item on the pricing schedule for each vendor. The colour codes indicate what has been quoted, included or excluded.
Green check mark - Quoted
The vendor has provided a price (and lead time, and manufacturer if requested by you)
Yellow check mark - Included in quote
The vendor is indicating that the item is included elsewhere in the quoted items of the pricing schedule.
Red cross mark - Excluded from quote
The vendor is indicating that the item is not covered anywhere in the quote.
Blue check mark
This indicates that the line item has been modified by your organisation (Quote Analysis view only). Modified entries are shown in blue text as well.
In all cases, vendors have the flexibility to add more context to a pricing schedule item using the comments function. It is recommended to always read all provided comments by vendors.
Organisations can make adjustments to line items whether the vendor responded or not within Felix via the Quote Analysis tab. Comparing is also made easy as you can switch tabs to the original quote to the adjusted quote.
Normalising the pricing schedule comparison
There are several ways to normalise the pricing schedule on the Quote Analysis tab:
Add in responses for a vendor that has quoted outside Felix
Edit QTY (quantity)and Rate values for a vendor to model changes for analysis
Add financial (Pricing) adjustments to normalise/level the bids from a financial viewpoint
Add Non-financial adjustments to compare other vendor differentiators side by side
To add responses for a vendor who has quoted outside Felix:
Click the Bidders link at the top left corner of the pricing schedule.
Select the desired vendor from the list. They will be listed under No Quote in the list.
The vendor will be displayed with their own columns in the pricing schedule.
Enter the values for QTY (quantity)and Rate. Click the cell twice to edit it.
The values will be in blue text and the Status column will change to a blue check mark to indicate that the row has been modified.
You can now compare the vendor next to all other vendors that have quoted directly in Felix.
Responses added on behalf of a vendor in the Quote Analysis tab will be overwritten by a latter formal vendor submission via Felix.
To edit QTY (quantity) and Rate values for a vendor:
Adjust the QTY (quantity) or Rate of a line item by clicking the cell twice to edit and enter the updated value.
Manually adjusted pricing appears in blue text and its line item status is a blue check mark to indicate that it has been updated.
To add financial (Pricing) adjustments:
Click the Add Adjustments button and select Pricing from the options. A new section with a default title Pricing will be added at the bottom of the pricing schedule. It will be also indicated with a blue "Adjustments" badge.
To update the section title or edit the adjustment, click the small down arrow that appears on hover and select from the following options:
Edit - Select this to update the section title.
Move up or Move down - Select Move up option to move the section up or select Move down option to move the section down depending on your preference for better organization. Sections will be automatically numbered.
Delete - Select this to remove the section from the pricing schedule permanently.
To add a row to the Adjustments section, double-click on the Add line item text in the Item column. Once you enter a description, the remaining fields will be editable.
Update the following columns:
Budget - Enter the total budget allocated for the line item. This will modify the pricing schedule budget just for the Quote Analysis tab.
QTY - This is intended to be used with the Rate column. Enter the quantity required. This can vary per vendor if you desire.
Rate - Enter the budget for a single unit of the line item. This can vary per vendor if you desire.
Multiple pricing adjustment sections can be added should you wish to break out your adjustments per your organisation's processes around bid-levelling/quote normalization.
To add non-financial adjustments:
Click the Add Adjustments button and select Non-financial from the options. A new section with a default title Non-financial will be added at the bottom of the pricing schedule. It will be also indicated with a blue "Adjustments" badge.
To update the section title or edit the adjustment, click the small down arrow that appears on hover and select from the following options:
Edit - Select this to update the section title.
Move up or Move down - Select Move up option to move the section up or select Move down option to move the section down depending on your preference for better organization. Sections will be automatically numbered.
Delete - Select this to remove the section from the pricing schedule permanently.
To add a row to the Adjustments section, double-click on the Add line item text in the Item column. Once you enter a description, the remaining fields will be editable.
Update the following column:
Total - Enter any notes or comments on the line item. (This is a text value.)
You can export vendor responses to PDF file by hovering over the vendor name, click the small arrow that appears on hover, and click Export to PDF.
