SAP SRM Quotation & Live Auction Cockpit - SAP SRM

What is SAP SRM quotation? What is live auction cockpit?

A Quotation is nothing but it is a response to RFx, where a bidder confirms the selling of goods and services to buyers/purchasers as per the mentioned criteria. Whenever goods required a supplier gets an email as per the bid invitation process describing about the request for quotation. Bidding process starts when the bid submitted in SAP bidding engine as per the bid invitation, the final price is shown. Suppliers can bid till the end date is reached and once bids are closed, purchasers can perform a price comparison to get the best supplier and to award the bid, and a purchase order can be raised for the best supplier.
If the number of bidders is less or if there is no best bid then it can always convert RFx to live auction.
Live Auction Cockpit supports purchasers to get a real-time environment for direct bidding on reverse live auctions. Auction cockpit provides an experience equal to the live auction by utilizing the technology to share the updated information.

How to create a live auction?

Let’s discuss about how to create live auction.
To create a live auction, purchasers can use SAP Bidding engine and auction takes place in Live Auction cockpit. Purchasers can create live auction −
  • Using an Auction template
  • By copying an Auction
  • In SRM portal, from the Sourcing application
  • Purchaser can also convert RFx to a live Auction

sourcing

With Auction you can create different documents types , click on continue after selecting the document.
auction_event_continue
Now, enter the details under different tabs to create a new Auction.
accounting
Select Header tab in dropdown list to define various roles for the auction like owner, collaborator, reviewer, etc. To add a user to auction, click on Add User.
add_users
When you enter all the details, click on Save → Done
create_new_auction

Converting RFx to Auction

You can create a live Auction from an RFx by choosing Convert to Auction button in RFx → Enter the Auction transaction type and bids to copy to the auction directly.
When you convert RFx to an auction, the RFx is set to the status Completed and you cannot make any changes to it.

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