While negotiating different prices with your vendors, you can update your target price as you find new and lower prices in each round
Once you make selections in the Material Costing tab, we can assume that the selected supplier's offer is the best you can get within the information available in QuoteCQ at that moment. But still, you want to try finding better options and you want to do a second round among your suppliers.
To not be repetitive and ask your suppliers for the same information, this time what you want to check is if they can provide a lower price than they provided before, setting the best price possible as a target.
The Best Price is subjectively defined. In some cases it might be the lowest unit price in the market, in other cases it will be the best lead time in the market. The Best Price is defined by the QuoteCQ user when using the AutoSelect Critera.
How do I use it?
Step 1: Select the Lines to Update
After updating pricing and making your initial selections on the Materials Tab, you can select the specific lines you want to update the Target Price for. You can do this by using the check marks on the left-hand side of the lines, or by clicking the top check mark to select all lines.
Step 2: Click the Edit Button
Once you have selected the lines you want to update, click on the Edit Button. This will open the drop-down with various options.
Step 3: Select Set Target Price & Set
In the drop-down, click the last option to Set Target Price. This will prompt the system to confirm that you want to make this update. Hit Set once you're sure!
Step 4: Use the New Target Price
Click on the Set button to proceed. This will update your target prices for the selected lines.
Congratulations, you have successfully updated your target prices on the materials tab!