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Free Bid Comparison Template for Excel
Compare supplier quotes side by side with a weighted bid comparison spreadsheet. Score price, payment terms, lead time, quality and risk, and let the template recommend the best overall bid, not just the cheapest one.
- Compare up to 5 supplier bids in one scorecard
- Weighted scoring that calculates a winner automatically
- Award summary with justification and approvals for audit
- Works in Microsoft Excel and Google Sheets
Download the free template
Get the bid comparison spreadsheet sent to your inbox.
A Complete Bid Evaluation Template in Four Tabs
Everything a buyer needs to evaluate an RFQ or RFP and document the award, from the first quote to the final sign-off.
Criteria & Weights
Five ready-made evaluation criteria plus three of your own. A built-in check makes sure weights total 100%.
Bid Scorecard
Enter each supplier's quote. Price, terms and lead time score themselves; you score quality and risk from 1 to 5.
Award Summary
A one-page record of the recommended supplier, savings, runner-up, justification and approvals.
Manual Effort Log
Track the hours each sourcing event takes by hand and see what that adds up to over a year.
Bid Comparison Template Example
The template ships with a sample event, a 12-month supply of hydraulic hoses and fittings with three suppliers, so you can see how a weighted bid comparison works before entering your own quotes.
| Criterion (weight) | Northline Industrial | Apex Fluid Power | Summit MRO Supply |
|---|---|---|---|
| Total quoted cost | $44,160 | $41,280 | $45,840 |
| Total cost score (35%) | 4.67 | 5.00 | 4.50 |
| Payment terms score (10%) | 2.50 | 3.75 | 5.00 |
| Lead time score (15%) | 3.50 | 1.67 | 5.00 |
| Quality & compliance (25%) | 4 | 3 | 5 |
| Supplier risk (15%) | 4 | 3 | 4 |
| Weighted score | 80.2 | 71.5 | 93.5 |
How to Compare Supplier Bids in 5 Steps
- Set your evaluation criteria and weightsDecide what matters for this category and how much. Weights must add up to 100%.
- Enter the event and supplier detailsAdd the sourcing event, SAP material group, budget and the suppliers you invited.
- Enter each supplier's quoteUnit price, quantity, payment terms and lead time. The template scores these automatically.
- Score quality and riskRate each supplier from 1 (poor) to 5 (excellent) on the criteria that need judgment.
- Review the recommendation and record the awardSee the ranking, savings against budget and runner-up, then document your justification and approvals.
How Weighted Bid Scoring Works
Each criterion gets a score from 1 to 5 and a weight. The weighted score adds up weight × score for every criterion and scales it to 100, so a supplier that scores 5 on everything gets 100.
Default weights in the template, a common starting point for indirect and MRO spend:
| Total cost | 35% |
| Quality & compliance | 25% |
| Delivery lead time | 15% |
| Supplier risk | 15% |
| Payment terms | 10% |
Depending on your team, you might call this a:
Tired of Building Bid Comparisons by Hand?
Rio, the AI sourcing agent for SAP, builds this scorecard for you. It drafts the RFQ, invites suppliers, collects their quotes, compares them side by side and writes the award back to SAP ECC or S/4HANA with the full sourcing history attached.
- Requests captured through guided intake
- RFQs and RFPs drafted by AI
- Quotes compared automatically
- Award triggers a contract or PO in SAP
Bid Comparison Template FAQs
What is a bid comparison template?
A bid comparison template is a spreadsheet that puts supplier quotes side by side so you can evaluate them against the same criteria. A weighted template goes further and scores each bid on price, terms, delivery, quality and risk to show which supplier offers the best overall value.
Is this bid comparison template free?
Yes. The template is free to download and use for as many sourcing events as you like.
Does it work in Excel and Google Sheets?
Yes. It is an .xlsx file built with standard formulas, so it works in Microsoft Excel and can be opened in Google Sheets.
How many suppliers can I compare?
The scorecard compares up to five supplier bids at once and supports up to eight evaluation criteria.
How should I weight bid evaluation criteria?
Start with what drives risk and value for the category. Commodities usually weight cost highest. Direct materials and critical parts usually give more weight to quality, delivery and supplier risk. The template's default weights are a starting point you can change.
Should the lowest bid always win?
Not always. The lowest price can come with longer lead times, weaker payment terms or higher quality and supply risk. Weighted scoring shows when a higher bid is the better overall value and gives you a documented reason for the award.
Can I use it for RFQs and RFPs?
Yes. Use it to tabulate RFQ quotes or to score RFP responses. For RFPs with many qualitative questions, add your own criteria in the spare rows on the Criteria & Weights tab.
What is the difference between a bid tabulation and a supplier scorecard?
A bid tabulation lists the quotes side by side. A supplier scorecard adds weighted criteria and scores to rank them. This template does both: it tabulates the quotes and scores them.
Make Your Next Award Easy to Defend
Download the free bid comparison template and run your next RFQ through a weighted, auditable scorecard.