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“Cost Sheet” Option Available for RFx Initiatives

May 31, 2018

Cost Sheets

The new “Cost Sheet” option is useful when getting quotations for engineered products.  It requires the supplier to state all elements of the bid price including tooling, material, labor, processing costs, shipping costs, overhead and profit.  Cost sheets provide a negotiating tool allowing you to compare each supplier’s assumptions and push back on cost elements that are out of line with other bidders.

Slingshot’s RFx module automates strategic sourcing processes.  Requests for quotation (RFQ), proposal (RFP) or information (RFI) can be designed and distributed automatically to one or more sets of suppliers.  The RFx can include a survey, items requiring a quotation, a list of documents required from the supplier and terms and conditions which the supplier must accept submitting a bid.  Each of these elements can be set as required or optional.  
Suppliers respond to invitations on the Slingshot’s supplier portal.  Price responses can be “one time” or accepted in a “reverse auction” during a bidding period.   Responses are scored automatically.  The score considers price and survey responses.  Bids can be awarded contracts or purchase orders.
RFx Cost Sheets are included in release 10.1 or Slingshot eSource application.  For more information contact Slingshot sales representative at