Award an event

Award an event

Once an event is closed and you’ve reviewed supplier responses, it’s time to award the event. Depending on your needs, you can award the entire event to one supplier, split award line items among multiple suppliers, or partially award some items to different suppliers. This finalizes your procurement process in Fairmarkit.

Awarding in Fairmarkit may also update data in your purchasing application, depending on the event type and your organization’s integration settings (e.g., updating a purchase requisition with an awarded supplier and a price). See Integrations.

Event close: An event will typically need to be closed to award a response. However, your organization may allow you to award open events. Events automatically close on the Close Date and Time, but you can also manually close an event. See Change event dates.

Value rounding: Supplier responses of $1 or more are rounded to two decimal places. Values below $1 are not rounded. Full decimal places are available in Excel exports and when sent back to your purchasing application.

Download responses: If you want to view a supplier's response outside of Fairmarkit, you can download a summary of their response and any attachments. See View event details and history.

Award an event

With a full award, you can award an entire event to one supplier.

1

From the Events list, click on an event to view it.

2

At the top of the supplier's column, click the Award 🏆 button. The supplier's entire response is selected and highlighted in purple. A blue confirmation banner displays above the response table.

3

On the confirmation banner, Click the Award Items button.A confirmation message displays.

4

If you want to include the purchase order number for the awarded supplier, select the Add PO Number option and then enter a PO number.

5

If you didn't award the event to the lowest-price response, you will need to select a Reason to award.

6

Click Award. The awarded supplier is notified, and the event moves to Awarded status.

Split award an event

With split awarding, you will award an entire event but will split the awarded line items between several suppliers. Split awarding can help you find the most savings. However, you will need to issue additional purchase orders for each awarded supplier.

Note: The ability to split and partially award events may be disabled for your organization. If you are interested in using these features, contact your Fairmarkit Customer Success Representative.

1

From the Events list, click on an event to view it.

2

For each line item you want to award, click the Award 🏆 button. The supplier's response for the line item is selected and highlighted in purple. A blue confirmation banner displays above the response table, letting you know how many items across how many suppliers were selected.

3

On the confirmation banner, Click the Split Award Items button. A confirmation message displays.

4

If you want to include the purchase order number for the awarded supplier, select the Add PO Number option and then enter a PO number.

5

If you didn't award a line item to the lowest-price response, you will need to select a Reason to award.

6

Click Award. The awarded suppliers are notified that they were awarded part of the event.

Split award a line item

If a supplier does not have enough of an item you need, you can split award the line item to multiple suppliers. If a supplier submitted a response with a lower quantity, a red warning icon is displayed for the line with the amount they responded to.

1

From the Events list, click on an event to view it.

2

For the line, click the line level Award 🏆 button for each supplier you want to award to.

3

Update the quantity you want from each supplier. The quantity will need to be equal to or less than the quantity you originally requested.

4

Award any other items on the event as needed.

5

On the confirmation banner, Click the Split award items button. A confirmation message displays.

6

Click Confirm award. The awarded suppliers are notified, and the event moves to Awarded status.

Partially award an event

If you are not ready to award an entire event, you can partially award line items to one or more suppliers. You can return and award the remaining line items later. However, you will need to issue additional purchase orders for each awarded supplier.

Note: The ability to split and partially award events may be disabled for your organization. If you are interested in using these features, contact your Fairmarkit Customer Success Representative.

1

From the Events list, click on an event to view it.

2

For each line item you want to award, click the Award 🏆 button. The supplier's response for the line item is selected and highlighted in purple. A blue confirmation banner displays above the response table, letting you know how many items and suppliers were selected.

3

On the confirmation banner, Click the Award Items button. A confirmation message displays.

4

If you want to include the purchase order number for the awarded supplier, select the Add PO Number option and then enter a PO number.

5

If you didn't award the bid to the lowest-price response, you will need to select a Reason to award.

6

Click Award. The awarded supplier is notified that they were awarded some of the event. A Split Awarded label is added to the event.