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Function documentationAuction Formula Locate this document in the navigation structure

 

On the Editing: Auction Formula, you can enter specific formula information to be used to track specific metrics.

Features

Field Help for Editing: Auction Formula Page

Function

Description

Formula Name

Enter a name for the formula. This field is required.

Formula ID

Indicates the programmatically generated ID for this formula.

Description

Enter a description for the formula.

Visible to Supplier

Select to make this formula visible to auction bidders.

Bid Unit Price Formula

Select to assign this formula as the bid unit price formula. This automatically calculates the value of a bid based on the parameters you enter, such as line item specifications or supplier-entered attributes.

The bid unit price formula is never visible to bidders. Selecting Visible to Supplier for this formula will not display the formula to the bidder, but will apply the formula to the Calculated Bid Price in the bidder’s Place Bid wizard and Bid History.

Enable ranking by this formula

Select to enable ranking using this formula. You can only select this checkbox if the Bid Price Unit Formula checkbox is also selected.

Formula

Enter the formula expression manually or by selecting links in the Components and Operands table. This field is required.

Validate

Select to ensure that the formula expression has no syntactical or logical errors. Errors are displayed below the Formula field.

Components and Operands

This table contains all available operands, operators, and functions. Selecting a link adds it to the Formula field.
Formula Syntax

Operations

Function

Description

Simple Arithmetical Operations

  • + operation of sum of arguments

    For example: ATTR00001+100

  • - operation of subtraction

    For example: SPEC00001-100

  • * operation of multiplying of arguments

    For example: ATTR00001*SPEC00001

  • /’operation of division of arguments

    For example: SPEC00001/2

Brackets

  • (, ) – brackets are used to change the priority of the operation execution sequence.

    For example: (ATTR0001+SPEC00001)*2

Logical Operations

  • && – logical operation AND

  • || – logical operation OR

  • IF – conditional operation allowing the selection of one of two possible variants, depending on the specified condition. The syntax is as follows:

    IF(conditional expression, result expression1, result expression2)

    The system calculates the conditional expression first. If the conditional expression result is true, the result of the entire IF operation is set as the value of result expression1. Otherwise, the result of the IF operation is set to the value of result expression2. For example:

    IF(ATTR0001> 100, ATTR0001*1.5, ATTR0001

    In this example, if the value of the attribute ATTR0001 > 100, the result of the IF operation will be the value of attribute ATTR0001 * 1.5. Otherwise, the result of the operation will be the value of attribute ATTR0001.

Operands

Function

Description

Numeric Content

Integer or decimal format

For example: 100, 100.99

Boolean Value Constant

True, False

Specification

Any auction specification can be used as a formula operand. The specification‘s Unique ID field is used to identify the specification in a formula. In this Unique ID, the prefix SPEC is followed by a five-digit numeric identifier.

For example: SPEC00001

Supplier-Entered Attribute

Any auction supplier-entered attribute can be used as a formula operand. The attribute‘s Unique ID field is used to identify the attribute in a formula. In this Unique ID, the prefix ATTR is followed by a five-digit numeric identifier.

For example: ATTR00001

Formula

Any formula defined in the auction can be used as an operand of another formula. The formula‘s Unique ID field is used to identify the formula in a formula. In this Unique ID, the prefix FORM is followed by a five-digit numeric identifier.

For example: FORM00001

BidUnitPrice

This operand includes the value of the Price field in the formula. The unit price value is dependent on the line item’s delivery term. The syntax for this operand is as follows:

UnitPrice(DEL_TERM), where DEL_TERM is the delivery term.

For example: UnitPrice(FOB)

Quantity

This operand includes the value of the Quantity field in the formula. The syntax is as follows: Quantity

Associated Costs

This operand includes the numeric values you associated with non-numeric responses such as Yes/No or multiple choice answers to specifications and attributes.