What is 'target price' in SAP LOD-ESO - Sourcing OnDemand?

target price - Overview

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The goal price a purchaser hopes to attain through an auction or RFx.

target price - Details

• 
  Key Concepts: 
  Target price is a feature of SAP LOD-ESO Sourcing OnDemand that allows buyers to set a target price for a product or service they are sourcing. This target price is used to compare the bids of suppliers and determine which supplier offers the best value. 
  
  How to use it: 
  To use target price, buyers must first set up a target price for the product or service they are sourcing. This can be done by entering the target price into the system or by selecting a pre-defined target price from a list of options. Once the target price is set, buyers can then compare the bids of suppliers and select the one that offers the best value. 
  
  Tips & Tricks: 
  When setting up a target price, buyers should consider factors such as quality, delivery time, and customer service in addition to cost. This will help ensure that they select the supplier that offers the best overall value. 
  
  Related Information: 
  For more information on using target price in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation available on SAP's website.