How to manage bulk purchase through tender process?

A Purchase Tender (PT), also known as Call for Bids, is used to drive competition between several suppliers in order to get the best offer for a list of products. In comparison to the RfQ, a Purchase Tender is sent to multiple suppliers, stating each are competing with one another, and that the best offer will win. The main interest is that it usually leads to better offers.

Activate the Purchase Tender function
Create a Purchase Tender
Send RFQ to different supplier and get the price
Compare the price and confirm RFQ and convert to purchase order

Rest of the RFQ will be cancelled automatically, and Tender will be marked as Done.