When viewing your Bid Analysis from the Item Details tab, you will see each Suppliers bid per line item, and any other Worksheet data you wish to pull in from the Event. Along with line item information, you will be able to view comparative data such as the Incumbent Supplier, lowest cost, and other scenarios based on the data you have available. The analysis will use the reference data you have entered in the reference columns. Examples of such reference material are shown in yellow below:

When viewing your Bid Analysis by Item, you will see several columns that contain data on:

• Line Items
• Reference Columns
• Bid Competitiveness
• Pre-built Scenarios
• Outliers
• Feedback Ranges
• Supplier Bid Data

Line Item Columns

Prerequisite: None, the line item columns are taken from the information you included when the price sheet was sent to the suppliers.

Click the "Scenarios:Suppliers:Columns" button select which Event Columns will be pulled in to the table. The columns from your Event will be listed out under the Event Columns section. Checking the box by a column header name will pull that column into the data table and pin it to the left by default. 

Reference Columns

Prerequisite: Open the Analytics toolbox and select "Reference Columns". Add the column header name and expected data type for each column of reference data you plan to enter.

Reference Columns refer to internal data that will be used as reference towards your Bid Analysis process. You may change your Incumbent supplier at anytime during the analysis process, and those changes will updated in your analysis immediately!

Bid Competitiveness

Prerequisite: None, the Supplier's bid data is compared against each other. 

Bid Competitiveness columns include data around the number of Bids received for a specific line item. Your team can quickly assess if there is room for negotiation based on the number of Bids that have been submitted, and statistics on price per line item (Max, Mean, Min, etc).

Scenarios

 Prerequisite: Reference columns including Baseline Spend and Incumbent need to be mapped and data must be added to the reference columns for the scenarios to populate accurately.

Scout has built a few what-if scenarios that Sourcing Teams can now leverage to their advantage. These scenarios help your team quickly compare cost savings across different use cases. 

• Olympic Scenarios 
  • 1st Place Scenario (Selects the lowest bid for each line item)
  • 2nd Place Scenario (Selects the second lowest bid for each line item)
  • 3rd Place Scenario (Selects the third lowest bid for each line item)

• Incumbent Scenario (Previous Supplier's Bid Data, based on the incumbent entered in reference columns)

• Historical Baseline Scenario (Based on the data entered in the reference column that was mapped to Historical Baseline)

Outliers

Prerequisite: Add and map baseline (reference) data  

While most Suppliers are aware of current market target pricing, there may be some line item prices that need to be reassessed. For instance, you may run into some prices that fall too far off from the majority of other Bids. This could be due to a misunderstanding of product specifications/sizes requested, a typo, or simply too low/high of a price. Obtain a clear view into prices that matter to you. Declutter your analysis by detecting and removing outliers early on.

For more information on how to set up Outlier Analysis, click here!

Feedback Ranges

Prerequisite: Add and map baseline (reference) data  

Feedback Ranges allow you to set predefined conditions around the Supplier data in your Event. Setting these ranges can be extremely beneficial and time-saving for viewing data quickly. Another benefit in using ranges is the ability to send this feedback directly to the Supplier in an Update Request. 

For more information on how to set up Feedback Ranges, click here!