i Sourcing

 Oracle Sourcing offers flexible negotiation capabilities to buyers and sellers, enabling them to efficiently obtain the best possible prices for goods and services. Prices are established based on actual supply and demand at the time the negotiation is transacted. The four different types of sourcing documents available - requests for quotations (RFQs), requests for information (RFIs), and buyer's auctions. Buyers use real-time interaction to obtain information on suppliers' products and services, and then use that information to create negotiations that drive prices based not only on price, but on lead times, quantity, and item-specific attributes. Buyers and sellers, who might never meet face-to-face, can bypass intermediaries and establish relationships that might not have been possible using more traditional methods of buying and selling.

RFIs 

RFI's are used to qualify suppliers and their goods and services for subsequent procurement activities. RFIs are used more for gathering information on goods and service provided by a supplier than to lock in particular price information. Therefore, RFIs typically do not make reference to line price or quantity. RFIs identify important item criteria on which the buyer needs information. The supplier responds by answering the buyer's questions. The buyer uses supplier responses to identify the group of suppliers who should be included in the subsequent negotiation. RFIs can be (and typically are) taken to multiple rounds until the buyer has enough information to identify supplier(s) with which to deal. At the conclusion of the RFI cycle, the information contained in the RFI can be copied into an RFQ or buyer's auction..more

RFQs 

RFQs enable buyers to collect quotes from suppliers for complex and hard-to-define items or services, such as made-to-order manufacturing or construction projects. The RFQ process is generally the longest of the negotiation processes. Once suppliers have submitted an initial round of Getting Started 2-7 proposals (quotes), the buyer has the power to fine-tune the RFQ and initiate detailed negotiations, as necessary. This process may go through multiple rounds of negotiations and quotes. RFQs can be blind (buyer can see the quotes during the RFQ, but suppliers cannot) or sealed (neither buyer nor suppliers can see the quotes until the RFQ is closed and the quotes are unsealed), so suppliers can never see each other's quotes while the negotiation is in progress...more

Open 

Everyone can see the response content, but only the buyer can see the identity of the response. 

Blind

Only the buyer can see the response content 

Sealed

Neither the buyer nor the suppliers can see the response content until the negotiation closes. The buyer can see the responses once the negotiation is unlocked. Everyone can see the response content once the negotiation is unsealed.

Auctions 

Auctions enable buyers to solicit bids for goods and services that are clearly defined, such as office furniture and memory chips. Buyers can discover new suppliers or buyers and get competitive pricing or improved service. Buyers can tailor each auction to control who can see bids during the auction, whether multiple rounds of bidding are possible, and whether partial bids are allowed. Many different items can be included in an auction. If permitted by the buyer, suppliers can view all bids submitted while the auction is open. This information generates competition and encourages suppliers to submit their best possible price. Once the auction is completed, suppliers are immediately notified of the auction results via online notifications. ..more