Using the Base Price
You can use a base price in the system to identify a price point where the competition will start. Creating a base price in procurement event and a price cap in sales processes will allow only the suppliers giving bids within the price range you have approved to participate in the competition.
In order to create a base price, firstly click on the details of the Total Price column on the Item Information screen.
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After selecting the Base Price option, click on Details of the Item for Which you Want to Define a Base Price. The Base Price Box will open on the Total Price column
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Here is an example of an item with a base price and base price information as seen on the supplier screen.
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Issues to Note
The system will not accept bids and will give a “Only bids better then base pricecan be placed” warning if a bid is given with a price higher than the base price or lower than the price cap.
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