Welcome to part 3 of our series on transformational bidding, a powerful and effective method for capturing complex pricing models within Market Dojo.
This blog is going to look specifically at the concept of ‘multiple totals’ and some examples of where they have, or could be used.
Multiple totals are, as the name suggests, the functionality of having multiple total columns within the same advanced lot. Prior to this functionality being released, the number of total columns was limited to 1 per lot. This new addition makes it very easy to capture and compare numerous totals within the same lot.
Exact vs alternatives
The most obvious example is for comparing exact and alternative options for a particular good or service. We have already seen examples of this for Uniform purchases and pharmaceuticals. In both events, the buyer has provided an exact specification for the supplier to provide a price for, but has also given the opportunity for the supplier to provide an alternative specification and price (nothing new here). What the multiple totals will allow you to do is also capture the total of all the items for the exact specification and the alternative (as shown below).
Another useful way to benefit from multiple totals in advanced lots is to use the total to compare different volumes, which can be extremely useful when you may want to dual source a particular event. There is an alternative way to do this now using picklist numerics which can be applied to pricing components (See here).
Why not try this out on your next event?
If you have any questions feel free to get in touch in the comments below, contact your account manager, or drop us a line using the details below.
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