What is normalized price in SAP SRM-LA - Live Auction?

SAP Term: normalized price

• Component: SRM-LA

• Component Name: Live Auction

• Description: Bid price which is converted from the raw price according to the individual factored-cost bidding settings defined for each bidder. Purchasers have the option of viewing bid prices in the cockpit as either raw prices or normalized prices.

Smart SAP Assistant

• Key Concepts: 
  Normalized price is a feature of SAP SRM-LA Live Auction that allows buyers to compare prices of different suppliers in a standardized way. It takes into account the different currencies, taxes, and other factors that can affect the price of a product. This allows buyers to make more informed decisions when selecting a supplier. 
  
  How to use it: 
  In order to use normalized price, buyers must first enter the details of the product they are looking for into the SAP SRM-LA Live Auction system. This includes the quantity, currency, and any other relevant information. Once this is done, the system will calculate the normalized price for each supplier based on their individual prices. The buyer can then compare these prices and select the supplier with the best value. 
  
  Tips & Tricks: 
  When using normalized price, it is important to remember that it only takes into account the prices of different suppliers and does not factor in other factors such as quality or delivery times. Therefore, buyers should also consider these factors when making their decision. 
  
  Related Information: 
  For more information on SAP SRM-LA Live Auction and its features, please visit the official SAP website at https://www.sap.com/products/srm-la-live-auction.html