Sourcing events
Sourcing events represent the type of sourcing activity needed to negotiate with each supplier, and track the individual negotiations with each supplier. They help sourcing managers manage multi-supplier and multi-product negotiations.
Instead of individually managing negotiations of similar item requests from various suppliers who provide that item, sourcing managers can create a sourcing event for a negotiation intent or objective to manage multi-supplier and multi-product negotiations. Multiple negotiations and sourcing requests can be mapped to a single sourcing event as child entities.
Through this sourcing event, the sourcing managers can view and effectively manage the progress of the negotiations created for each supplier. They can also discuss, follow, update, or cancel the event, as required. Further, they can award a single supplier or multiple suppliers, or even reject bids by selecting Award, Award multiple suppliers, or Reject bids respectively. Selecting Award multiple suppliers redirects them to the Source-to-Pay Workspace, where they can complete the process. For more information on this, see Award multiple suppliers from a sourcing event.
Sourcing events can be best viewed from the Source-to-Pay Workspace list page.
Here’s a list of key fields of a sourcing event:
| Field | Description |
|---|---|
| Number | System-generated unique identifier of the sourcing event. |
| Assigned to | User who is responsible for the sourcing event. |
| State | Current state of the sourcing event.Note: This is a read-only field. |
| Supplier responses close | Date by which the suppliers must submit their responses to the sourcing activity. |
| Short description | Brief of the sourcing event. |
| Description | Details of the sourcing event. |
| Summary | |
| Negotiation type | Type of sourcing event or the method used to engage with the supplier. For example, you can initiate a contract renewal or ask for a quote. |
| Negotiation outcome | Anticipated outcome or end results of the sourcing event. For example, you can negotiate contract terms or standard savings on a purchase. |
| Expected start | Expected start date of the sourcing event. |
| Actual start | Actual start date of the sourcing event. |
| Actual end | Actual end date of the sourcing event. |
| Duration | Duration of the sourcing event. |
| Negotiation objectives | Objectives or goals for the sourcing event. |
| Close notes | Notes on closure of the sourcing event, if any. |
The following are the related lists of a sourcing event:
| Related list | Description |
|---|---|
| Sourcing Requests | View all the sourcing requests that are mapped to this sourcing event.For details, see Sourcing request. |
| Negotiations | View all the negotiations with each supplier that are mapped to this sourcing event.For details, see Negotiations. |
| Purchase Lines | View and track all the purchase line records within the parent purchase for the suppliers referenced on the sourcing event.For details, see Purchase lines. |
| Purchasing Tasks | View information on all the purchasing tasks that are related to the sourcing event. For details, see Purchasing tasks and procurement cases. |
| Cases | View information on all the cases that are related to the sourcing event. |
| Draft Contracts | View and track all the draft contracts for the suppliers referenced on the sourcing event. For more details, see Contracts. |
| Signed Contracts | View and track all the signed contracts for the suppliers referenced on the sourcing event. |
| Other Legal Documents | View and track all the other legal documents for the suppliers referenced on the sourcing event. |
| Contract Requests | Displays all the associated contract requests against this sourcing event.Note: This field is displayed only if you have the Source-to-Pay Operations with Contract Management Pro plugin (sn_spend_clm) installed. |
| Purchase SLAs | View all the purchase SLAs associated to purchasing tasks against the sourcing event, along with tasks associated to the underlying purchase requisition lines. |
| Purchase Requisitions | View information on all the purchase requisitions that are related to the sourcing event.For more details, see Purchase requisition. |
| Draft Emails | Associated email communication that is saved as drafts. |
| Sent Emails | Associated email communication that has been sent. |
Sourcing event workflow
The default states that are available for a sourcing event are listed.
- Draft
- Planned
- Work in Progress
- Pricing Obtained
- Awaiting Task Completion
- Requires Decision
- Closed Complete
- Closed No Decision
- Closed Canceled
Parent Topic:Sourcing and Purchasing Automation