Pre-Market Approvals are a functionality requiring Local Group Managers and Administrators to approve or decline a Buyer's RFx before they are posted to Suppliers.
An Administrator will be able to set Pre-Market Approvals based on selected RFx values for RFx's of specific Local Groups, or set custom thresholds for specific buyers. You can find information on how Pre-Market Approvals are activated here: Activating Pre-Market Request Approvals
When enabled, Administrators/Managers must approve or decline requests posted by the users they manage when they select an RFx Value that requires approval. You can find how to view who, and update who, manages specific Buyers here: Updating a Buyer's set Manager.
These Administrators will have the following options regarding Pre-Market Approvals:
- Approve the Request.
- Approve the Request but if subsequently edited, approval is again required.
- Decline the Request.
If a Request is declined, the Administrator will need to provide a reason why in a free-text entry field. This information is then relayed to the Buyer who created the request who then addresses the issue and resubmits the Request.
As a Buyer, once you go through the Request Wizard to create a Request, you will be notified that the Request you have created will need to be approved before it can be made visible to Suppliers.
You will see the Request on your dashboard under My Requests with a status of Pending approval. If you hover over 'Pending approval' you will see which Administrator/Manager has been notified to review and approve the request.
If you have any questions regarding your Request (e.g., why it was declined, a timeframe of RFx review), please reach out to the administrator/manager who is set to review your request.
You can find instructions on how an Admin/Manager can review and approve/decline Requests here: Approving/Declining Requests.