What is price bidding in SAP PSM-GPR - Procurement for Public Sector?

SAP Term: price bidding

• Component: PSM-GPR

• Component Name: Procurement for Public Sector

• Description: A bidding process that allows bids to be evaluated on price only.

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• Key Concepts: 
  Price bidding is a process used in the Public Sector Management (PSM-GPR) component of SAP software. It is a method of procurement that allows suppliers to submit bids for goods and services at a predetermined price. The lowest bidder is then selected to provide the goods or services. 
  
  How to use it: 
  In order to use price bidding, the buyer must first create a request for quotation (RFQ) in the PSM-GPR component of SAP. This RFQ will include all the necessary information about the goods or services being requested, such as quantity, delivery date, and payment terms. The buyer will then send this RFQ to potential suppliers who can then submit their bids. The buyer can then review the bids and select the lowest bidder. 
  
  Tips & Tricks: 
  When creating an RFQ for price bidding, it is important to include all relevant information so that suppliers can accurately submit their bids. Additionally, it is important to ensure that all potential suppliers are given an equal opportunity to submit their bids. 
  
  Related Information: 
  Price bidding is just one of many procurement methods available in SAP software. Other methods include request for proposal (RFP), request for information (RFI), and reverse auctioning.