What are Advanced Lots?

What are Advanced Lots?

What is an advanced lot?
In the MarketDojo Sourcing tool there are two options to building RFQ and eAuction lots. Either a simple lot or an advanced lot. A simple lot is as the name would suggest 'simple'. It allows you build a lot where you only need to capture the price and Unit Of Measure from a supplier.

Advanced lots offer more functionality than a simple lot. Within an advanced lot you can capture textual, numeric and date based information as well as building complex formulae,. You can also allow partial bidding and can assign  line item totals, lot totals and event totals. When building and advanced lot you are effectively creating a table of data and defining both who is entering the data (host or participant) and what type of data you are expecting to be entered (text, numeric, date, lookup list, price). For example you may need to know lead times in days (numeric), day rates (price), number of days (numeric), serial numbers (textual), MOQ (numeric), pack sizes (textual/pick from list). If you need to capture any textual, numeric or date information that help inform price  Advanced Lot is the place to go.

Recommended steps for setting up and building an Advanced Lot.


Step 3: Add Line item data
                  Manually add line item data
            Or
                  Use a lot template to download data

                 


Advanced lots glossary 
  1. Component type = The type of data you are expecting to be entered in the Column, for example Price, Textual, Numeric, Date or creation of a Picklist.
  1. Event Total =  Allows you to create formulae that combines any price or numeric cells from across multiple lots. 
  1. Line item total = The cell which is most important within a particular line. This can be a cell that sits in a total column/row that has a formula in or any other cell within a specific line that has a price. For example this could be a total cell that adds up cells within a line to give a summed total, Or it could be a specific cell with a price that is deemed most important for that line item.
  2. Lot column components = Both columns and rows are required in an advanced lot. Lot column components are the columns within the advanced lot table where you can define what type of response you are expecting within the cells of that column.  
  3. Lot library = The ability to save and load lot templates to a central storage library. 
  4. Lot template = An excel download file that allows you to create and advanced lot within Excel then re upload into the MarketDojo tool.
  5. Lot total = The most important price value within the entire lot. This can be a cell that sits in a total column/row that has a formula in or any other cell with a price. Lot totals are ultimately the value in which cell participants responses are ranked by. For example, this could be a cell within a total column and total row that adds up cells within the advanced lot table to give a summed total, Or it could be a specific cell with a price that is deemed the most important factor within the whole lot.
  6. Partial Bidding = Allows participants to enter prices for some but not all the line items within a lot. Without partial bidding turned on line item pricing is mandatory.
  7. Picklist = A list of predefined answers - you can build picklists when adding in a Picklist component type.
  8. Price components = A component type that captures a price - this can be host or participant entered.
  9. UoM = Unit of Measure
  10. UoM Set = Allows you to define how your items are sold, purchased, and used when the UoM is different than the primary measure. For example your standard measure of length is 1 meter, a UoM set could contain 100cm or 1000mm (Both equate to your standard length UoM of 1 meter) 







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