Contract Management - Renew

[Former Member]

Hi Friends,

This is regarding SRM7.1 and Could you please tell the me how the Renewal of contract works and If wants to Renew the contract then process has to take you the RFX process.

For example, Once if I click on the renew in contract then system should take me to RFX (bidding) process.

Could you please provide the some input on this.

Thank You!

Srini

[Former Member]

HI,

When you try to renew the contract system will automatically create a RFX for you.

YOu will have to edit this RFX and add the bidders you need , publish this RFX, approve the RFx,

Bidder login and create there quotations for this RFx.

Purchaser then evaluates these quotations and awards the RFX response.

Once the awarded Rfx Response is approved you will have a Update Contract xxxxxxxx button, which will update your contract.

Regards

Sam

[Former Member]

Thank you Sam,

When the Rfx Response is approved wher I can see the like Update Contract xxxxxxxx button, and same which will update the contract.

Please help

[Former Member]

Yes, once you RFx response is evaluated and awarded to the vendor, update contract xxxxxx button will automaically update the existing contract with the latest details.

Regards,

krish

[Former Member]

Hello Mr Sam,

Thanks for your inputs.

Currently during Renewal in standard the system does not ask document types for RFx as it used to be in SRM 5. Is it possible in SRM 7 to have the POP-UP which shows up so that the user selects the desired document types for RFx during contract renewal.. Or the scenario is wrong?

Thanks in advance.

Best Regards,

Gopi

[Former Member]

Hi Gopi,

When you renew the contract, the RFx type is RFCR in SRM 7.1

At the moment you click on the Renew button, it creates a RFx of type RFCR and the RFx number will be available in the tracking tab of the central contract. You can navigate to the RFx from tracking tab of the central contract.

Once the bid is accepted then you can refresh the RFx Response and then you will get 2 options one for Update Existing Contract and another one for Create New Contract.

Regards,

Mayur

[Former Member]

Hello Mayur,

Thanks a lot for the information it helped to comprehend the issue more than a bit now.

Currently in our system the renew RFx type is taken as BID but not RFCR. Do you see a possibility where this might be going wrong.

Thanks in advance.

Cheers,

Gopi

[Former Member]

Hi Gopi,

If you open the RFCR then the type of the RFCR will be shown as RFx only but it is called as RFCR.

However can you continue with the process and check after accepting the bid what all options you get? Check if it gives you option to update the contract or create new contract.

Regards,

Mayur

[Former Member]

Hi Mayur,

Thanks for the response.

Currently the RFx type is taken as BID but not RFCR in RFx type column. Is this Standard?

If we create the RFx with this type there are some unwanted fields and it obviously is changing the old contract status.

Thanks and Regards,

Gopi