Auction settings

English and Dynamic Reverse Auctions

For English and Dynamic Auction Types it is possible to set:

• Auction currency,
• Time extension in case that a supplier enters a bid within a certain number of minutes before the end of an auction,

• Maximum number of extensions,

• Minimum price reduction (can be limited by an absolute amount or percentage),

• Maximum price reduction (can be limited by percentage).

The option to manually close an auction before it expires, the option to place a free amount of bids and to mark the auction as a test1It is recommended that a test auction be held before a real auction so that suppliers can get familiar with the system. can also be selected on this tab.

You can also specify which data is visible to competitors:

• The leading bid,
• Their rank (if they are among X best bidders)

• The number of participants in the auction.

 

Japanese and Dutch Reverse Auctions

For the Japanese reverse and Dutch reverse auctions it is necessary to determine auction currency, starting and ending price, duration of the auction interval and price reduction per interval.

It is possible to end the auction before it expires, start the auction automatically at a scheduled start time and mark the auction as a test.

For these auction types, there can be only one procurement line item. You have to set its name, quantity, and (optionally) planned price.

Suppliers can view the number of participants in the auction.