Introduction
Public Requests allow buyers to share their material needs with the entire Matium Network by listing demand on the Matium Market.
Closed RFQ
By default, requests will run in a closed format where bidders will not have any visibility into other bids. As a buyer, you will be able to negotiate individually on each offer at any time by countering, accepting or declining.
Live Bidding RFQ or Reverse Auction
Requests can also be run in a more open format where all bidders see the lowest qualified offer price in real-time. Additionally, once you have received an offer that you have qualified or conditionally qualified for the full weight of your request, bidders will have to bid at or below that offer price.
Creating a Public Request
Create or Identify your Need
All public requests must be associated with a Core Need, which describes the material need required. All of your active needs can be found by navigating to Core CRM -> Needs.
If you have not yet created the need in Matium, click the New Need button in the top right. Provide details including your material parameters, required location, weight, target price point, etc.
If the need already exists, select it from the list to view the need details.
Tip: Make sure any and all material requirements are included before creating a request. Material specs cannot be updated after a request is shared. To edit specs, click the Edit Material Details button next to the need description.
From the need detail page, select New Public Request from the Actions drop-down in the upper right.
Step 1: Identify Need
Core Need - Set to the Core Need you would like to list.
Title - Provide a title for your request that will be shared with the Network.
Description - Provide a description. Include as many details as possible - including if the need is ongoing, payment terms, required delivery dates, etc.
Preferred Shipping Terms - Share your preferred shipping terms (Picked Up or Delivered) with the Network. Note that the location of your need will be shared with the Network if the Terms are set to Delivered.
Location - Provide the location of the need.
Target Price - Set the desired target price and units that will be shared with the Network. If you would like to require all bids to be at or below your target price, check the box below. If you would like bidders to be able to submit an offer at any price, uncheck the box.
End Date and Time - Set the date and time that the RFQ will close.
Reverse Auction - Decide if you would like to run the RFQ in an open format with live bidding or in a closed format. If you would like to run with live bidding, enable the Reverse Auction toggle and provide a bid increment.
Bid Increment - Set the minimum amount below the lowest offer a bidder must enter once an offer has been qualified for the full requested weight.
Documents - Attach any documents or images that will be shared with the Network.
Step 2: Review
Review the RFQ details. Click Submit to create the Public Request.
Managing your Public Request
All of your public requests can be found by navigating to My Activity in the left sidebar, clicking on My Listings and then Public Requests.
Click on a request to view details, manage offers, and make any updates.
Editing a Public Request
If you need to make changes to your request, select Edit from the Actions drop-down in the upper right corner. Here you can update the Title, Description, Location, Status, End Date and Time, Preferred Shipping Terms, Target Price, and Bid Increment.
If you need to edit the weight, click on the associated need on the request detail page and update the weight there.
Note: Once a request has been created, you will not be able to update the material specifications. If you do need to edit the specs, you will need to cancel the request and corresponding need and then re-create both with the correct specs.
Managing Bids
Suppliers will be able to respond to your request with material offers that meet your specific needs. Scroll to the bottom of a request detail page to view All Offers.
When viewing the details of a material offer, you will be able to see all material specifications, offer price, shipping terms, etc. You will also be able to evaluate how closely the offer matches your specific needs in the form of a material match rating.
You can then mark each offer as qualified, conditionally qualified if you need more information such as a TDS or a sample, or disqualified if it does not meet your needs. This is especially important when running a Reverse Auction because bidders will only see the lowest offer price that you have marked as qualified or conditionally qualified.
When you are ready to start individual negotiations for a Closed RFQ, or when your Reverse Auction ends, click on an offer to counter, accept or decline it. Bidders are also able to counter, confirm or cancel on their side.
Note that transactions are not considered final until accepted by the buyer and then confirmed by the supplier. Once confirmed, all contact information for both buyer and supplier will be shared with the other party.