In Ariba sourcing, how many types of sourcing events are recognized?

In Ariba sourcing, there are four recognized types of sourcing events, which cater to different procurement needs and strategies. These include auctions, requests for information (RFIs), requests for proposals (RFPs), and requests for quotes (RFQs). Each type serves a distinct purpose within the sourcing process:

• Auctions are real-time bidding events where suppliers compete against each other to offer the best price for goods or services. This dynamic setting encourages competitive pricing and can lead to significant cost savings for the buyer.

• RFIs are used to gather information about potential suppliers and their capabilities. This event is primarily informational and helps buyers understand the market landscape before moving into more formal sourcing processes.

• RFPs are structured requests that require suppliers to provide detailed proposals outlining how they will meet the buyer's needs, including pricing, timelines, and commitments. They are commonly used for complex purchases that need careful evaluation.

• RFQs are typically used for straightforward purchases where price is the primary consideration. Buyers send these requests to suppliers to obtain competitive quotes based on specified requirements.

Recognizing all four types is crucial for leveraging the full capabilities of the Ariba sourcing module, as each event type is designed to address specific sourcing goals