What is RFx Optimizer in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: RFx Optimizer

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A tool that recommends an RFx award based on your specified priorities. The optimizer is an optional SAP Sourcing component.

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• Key Concepts: 
  RFx Optimizer is a component of the LOD-ESO Sourcing OnDemand solution from SAP. It is a tool that helps buyers and suppliers to negotiate better deals by providing an automated, transparent, and secure platform for conducting negotiations. It enables buyers to create and manage requests for quotations (RFx) and suppliers to submit bids in response. 
  
  How to use it: 
  RFx Optimizer can be used by buyers to create RFx documents that include all the necessary information about the goods or services they are looking for. The buyers can then invite suppliers to submit bids in response. The RFx Optimizer will then analyze the bids and provide recommendations on which supplier offers the best deal. 
  
  Tips & Tricks: 
  When creating an RFx document, it is important to include all relevant information about the goods or services being requested. This will help ensure that suppliers are able to submit accurate bids in response. Additionally, buyers should take advantage of the RFx Optimizer’s analysis capabilities to ensure they are getting the best deal possible. 
  
  Related Information: 
  The LOD-ESO Sourcing OnDemand solution also includes other components such as Contract Management, Supplier Relationship Management, and Spend Analysis. These components can be used in conjunction with RFx Optimizer to further streamline the procurement process.