Tuesday, 23 September 2014

Market Dojo's Lot Matrix has arrived!

Last weekend we were hugely proud to have made one of our biggest software releases since our incorporation four years ago.  The project has taken our dedicated team over 12 months to complete, pulling out the stops to make it happen in time for eWorld on Wednesday (24th September 14).

May we please introduce you to the crux of our Lot Matrix upgrade:  

Advanced Lots

Advanced Lots helps you run complex tenders easily.  

Should you find yourself asking your suppliers for cost breakdowns, Total Cost of Ownership, Bill of Materials, Quotation Analysis Forms etc., you can build the entire bid sheet online to centralise all the responses into your desired format.  No more shall you have to receive from your suppliers botched Excel bids with partially completed information.  Instead Advanced Lots will ensure the quotes you receive are fully completed and qualify against the budget costs you can choose to enter.

Intiuitive Design

We've invested a lot of effort into making the design as user-friendly as possible, with a great deal more to come.   Online you can construct bid templates that consist of many line items, multiple price and text components and even bespoke total or sub-total calculations.  There's a checklist for each Lot to ensure you're on the right track.
We've also added the option of increasing the number of decimal places for price fields to 6 for those very low value bids. 

Unit of Measure sets

Advanced Lots introduces the concept of 'Unit of Measure Sets', which allow you to group your own Unit of Measures (for example:  gram, kilogram, tonne) and specify their relative conversion ratios so suppliers can to bid in their preferred Units.  The software will then convert those bids into your preferred unit of measure so you can compare all bids evenly.  This is particularly useful where you have suppliers that export bids from their own systems and are unwilling to alter them (the energy sector for example).
Coming soon we shall also be adding in the same principle for multiple exchange rates to allow your suppliers to bid in their own preferred currency.

Excel integration

We have enhanced our Lot upload via Excel to also handle the upload of Advanced Lots.  You simply add the components (essentially column headers) that you want, download the Excel template and populate it offline.  When ready, save the template and upload it to complete your Lots.  

We have used the same easy Excel download/upload feature for bidding as well, so it's no trouble to have many hundreds of line items.

All results gathered online can be exported at the end of the event into Excel for your own records and analysis.

Compare price breakdowns in real-time

We previously released our revamped user interface for comparing supplier bids side-by-side, in anticipation of Advanced Lots.  Now it really comes into its own as you can expand the line items within each Lot to see the leading bidder(s) across the items, as well as expand the supplier to see the multiple price or text components that they have offered you. 
Advanced Lots will give you an understanding of the relative strengths and weaknesses of each proposal to help you reach your decisions faster.   You can choose which individual price elements you wish to rank suppliers on and whether you want the rank to be made visible to them during an eAuction.  Therefore you can decide what level of feedback you wish to provide.

Create multiple Event Total scenarios

We appreciate that sometimes making the award decision can be challenging, especially when you have multiple Lots and multiple suppliers.  Add into this the situation of multiple line items and price components and it can become very opaque.

And so we've created the concept of the 'Event Total' where you can build your own formulaic scenarios based on combinations across the Lots and even the line items and price components within.
These are made visible to suppliers, although you choose whether you wish to rank and share the rank with them.   Therefore Event Totals act as an extra guidance to the suppliers on the value of their overall proposition, especially if your scenario includes a year-on-year cost down or perhaps amortisation of tooling costs. 

Run the eAuction at Lot level

Simplicity is sometimes still the best option.  And so we've built a pioneering approach in the tool that lets you gather the detailed bids from suppliers during an RFQ / Qual Bid process but run the eAuction at a Lot level instead.  Suppliers will give you a single bid for all items in the Lot and will be given their position / lead bid / next bid round accordingly, depending on the eAuction type.

Once the eAuction is over the items are once again unlocked for suppliers to re-complete their detailed breakdowns.  The software will automatically check that the value of their detailed bid matches their final eAuction offer, saving you the head-ache of trying to match up offline Excel files.

Fully compatible with our existing capabilities

Advanced Lots is simply a new approach to requesting additional detail for supplier proposals.  It can be used with all of our previous Event Settings, such as weighted tenders/eAuctions, Japanese eAuctions and sealed bids.   And for those of you who wish to continue using Simple Lots and offline Excel bids, you're more than welcome to ignore all of the above and continue to do so!

We hope you enjoy the new release and if you're planning to attend eWorld, please do stop by our stand and ask us for a tour of the new features.

About: Market Dojo provides accessible eSourcing software. Find out more at www.marketdojo.com

Thursday, 11 September 2014

An easy way to filter your categories

Last night we released a fantastic new feature for Category Dojo that will be of great help to our users with many spend categories.

Filtering categories

You can now graphically view your category hierarchy to easily see what you've created so far.  The top of each branch shows a count of categories that have been completed within it, so you can quickly establish where the most analysis has been done.
Futhermore, you can click on various branches of the tree, or even specific categories, to select or deselect them for your filter. Your selected categories will be highlighted in yellow.
Save the filter and from that point on the reports will only include your selected categories.
The filter is applied per user and so you can forever have your own unique display of results without affecting your colleagues, and vice versa.  Therefore you can use the tool to interrogate what matters most to you, whilst also seeing the bigger picture.

Continuous improvement

As well as the release of this entire feature, we also released some minor fixes and enhancements to improve our general user experience.

We hope you all enjoy the latest release and we are hugely looking forward to the next one - our Lot Matrix!

About: Market Dojo provides accessible eSourcing software. Find out more at www.marketdojo.com

Wednesday, 3 September 2014

Mini-competitions to drive Savings within Frameworks

Many senior professionals in the public sector feel that mini-competitions in Frameworks are not used enough, resulting in “less than competitive” pricing compared to wider external markets.
Like many other providers, Market Dojo has tried to address this market gap with careful developments. To date we have had considerable success with Bedford Borough Council, Kent County Council and Shropshire Council.
There is an opportunity for the new breed of eSourcing providers to evolve their functionality in order to broaden their appeal beyond the Private Sector. Essentially to apply their methodology and provide low-cost, EU-compliant and fully auditable tools that can assist Public Sector organisations across all member states of the European Union. One particular problem area to address is where Frameworks have underperformed (amongst other things).
The majority of orders raised within the frameworks are from ‘call offs’ for which there is obviously scope for increasing their competitiveness by using mini-competitions. Mini-competitions, and hence weighted auctions, are currently not readily used due to the complexity of current systems, so this represents a massive opportunity.
Please read more here on procurement Insights

About: Market Dojo provides accessible eSourcing software. Find out more at www.marketdojo.com