What are Pricing Conditions?
In many cases, the price of a product or service may vary over time. Pricing by Time allows these price changes to be captured in a sourcing event. Event owners can define validity periods and volumes scales, and specify pricing condition settings as part of the term's attribute definition.
Pricing Conditions Key Attributes
- Pricing can be captured on a Monthly, Quarterly, Annually, Supplier, or Buyer-defined duration intervals.
- Pricing Conditions are not available on RFI or Auctions.
- Allow Pricing Conditions must be enabled or delegated within the template settings.
- Buyers can opt to display quantities with units of measure to participants.
- Scales can be used to enter the volume tiers for which pricing needs to be collected.
When to use Pricing Conditions
Pricing Conditions can be helpful for products or services that have seasonal or fluctuating prices that can be captured on a monthly, quarterly, annually, or custom time frame. Customers can identify when the price trends per each basis. Collecting pricing over time and volume can lead to more accurate pricing.
Supplier Responses with Price by Time
- The item will have a Price by Time link
- Clicking the link opens a box to enter the time-based pricing
- Suppliers can also export the pricing sheet to Microsoft Excel to enter time-based pricing
- The event will contain price columns for each pricing period on the event.
Play the video below to see how to set up Pricing Conditions.