When using Excel for Procurement, it is common to use it for making quotations. When there is more then one supplier, you might come across situation when you have to retrieve the cost of a part from a specific supplier. This could be in context of a particular part, for a particular department, for a particular month and many more details could be attached to such a lookup process.
In this post, we will be discussing how to retrieve the results from a quotation or a databank containing supplier and theirs quotations for a certain part. For simplicity we will consider just two suppliers, against which we will be retrieving quoted prices.
We will take as example, the following data that lists two types of bearings – ball and roller for two suppliers – Supplier A and Supplier B. The respective prices are given below each supplier.
Workout No. 01 : The VLOOKUP with MATCH combination:
The problem can be solved if we use VLOOKUP for lookup in the left most column and for MATCH to match suppliers. The final formula should like the below one:
The formula gives the following result when inserted into the Excel Sheet
Workout No. 02 : The VLOOKUP with HLOOKUP combination: