After completing this lesson, you will be able to:
"For global events, currency rules are important; the good news is that the rule settings are short and straight-forward.
You can enable multiple currencies, and then select the exchange rate set by administrators. There is an option to display the exchange rates to participants, and that is all for this section."
Currency rules allow suppliers to select the currency in which they place their bids in RFPs and Auctions.
When set to Yes, participants can select the currency in which they place their bids from a list of currencies associated with the event. Participants can only select the currency for lots and line items.
Considerations when using Alternative Bids:Participants can also select a bidding currency for each lot or line item when submitting alternative bids if Allow participants to select bidding currency is set to Yes and:
The "Multiple currencies in alternative bids" feature is enabled for your site.
The terms for which you want to allow participants to select bidding currencies in alternative bids (such as the Price term) have the field Is term editable in alternatives set to Editable By Owner and Participants.
This rule appears only if you chose to allow participants to select the bidding currency.
If set to Yes, a currency exchange rate table appears on the Event Details page.
Bidding rules are essentially bid-improvement rules: participants are bound by their bids and can only revise them by improving them.
With these bidding rules, SAP Ariba Sourcing gives you additional power to determine exactly how participants in your events must improve their bids. It is common to specify a common set of bidding rules for all lines and lots in an event with line-item-specific price decrements, however, lot- or line-item-specific bidding rules can be configured.
Scoring enables you to assign a weight and level of importance to participant responses. If you allow scoring on participant responses, the Scoring display option appears when entering content, which allows you to assign a numerical level of importance to different lots, items, or questions.
You can also set up team grading, in which you assign team members to the team grader group to provide their scores on the participants’ responses.
You can also add external graders to your event and specify if the external graders can see the participant identity or profile during the grading process, or if this participant information is hidden to increase the level of objectivity and remove bias when scoring participants (blind grading).
Use scoring to:Bid guardian percentage helps prevent suppliers from entering erroneous bids which can be very disruptive to other suppliers competing in an auction. This rule helps prevent bid mistakes by providing a warning to suppliers who attempt to submit a bid that is either a certain percentage lower than the ceiling price, the lead bid, or their own previous bid.
The Bid Guardian Percentage rule is set by the project owner.
The default is 10%.
If triggered, the system displays a warning message. Participants can ignore this warning and submit their bid anyway.
Participants can use Microsoft Excel spreadsheet with offline content to submit responses.
Custom offline response sheets enable you to create your own customized version of the SAP Ariba Sourcing offline bid sheet. When creating your customized offline response sheets, you only have to map cell values from your custom offline response sheet into the standard SAP Ariba Sourcing offline bid sheet.
If set to Yes, the system validates bids based on the bid improvement rules. It rejects bids that do not meet the requirements of the improvement rules.
Follow-on rules:
"Alright, so I have my currencies and conversions set. I am not going to use offline responses, and I am taking the best price, so I do not think scoring is needed. I have bid guardians set, and since I am running a competitive auction, my rules for improving bids are set to my liking."
"Great. Next we have Market Feedback rules. Auctions focus heavily on leading price, and there are Market Feedback rules that can expose or hide ranks, bids, or other details to help encourage competition.
You can change the setting of these rules to expose more or less information about the participants in your event and their pricing.
Controls when participants can see price, quantity, participant aliases, responses, item terms, bid score, total cost and rank details from other participant responses.
If participants cannot see lead bid information, they see only their own responses. They cannot view the bid graph or bid history table.
Only when winning allows participants to see whether their bid is market-leading or not.
Set this to No if the type of event requires that the project owner cannot see any participant responses until the bidding is closed. This rule appears when Show lead bid to all participants and Can participants see ranks are both set to No.
If scoring is enabled for an event, you can control if participants can see the overall weight you assigned to each response.
On the one hand, by showing your scoring setup to suppliers, you communicate to them how they can improve their bids. On the other hand, by hiding your scoring setup, you can learn about your suppliers’ strengths and weaknesses as they submit their most natural bids.
This rule available only in Dutch and Japanese auctions.
Choose Yes to display the target price to all participants. The target price is typically the last price before the auction closes. In addition, Dutch auctions can be configured to close based on time and Japanese auctions can be configured to close based on the number of active participants.
The target price depends on the type of auction.
| In this Type of Action: | The Target Price is: |
| Reverse Dutch | Ceiling (highest) price that participants can accept (the highest price you are willing to pay). |
| Forward Dutch | Floor (lowest) price that participants can accept (the lowest price at which you are willing to sell). |
| Reverse Japanese | Floor (lowest) price that participants can accept. |
| Forward Japanese | Ceiling (highest) price that participants can accept. |
NoteRFI and RFP participants are never shown information about responses from other participants, regardless of the values for the following rules:
"We are not going to go through every rule in the Event Rule Reference Guide, rather spotlight some of the more commonly delegated settings. If rule setting values are not to be changed by project owners, their status should not be delegated.
Template owners should be helping pre-configure the necessary settings so that the project owner does not have to set values manually, and rules should be hidden if functions are not to be used."
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