Types of eAuction
Single Reverse eAuction
Buyers create independent open fixed price reverse eAuction for single item or lot. You set a fixed start price & decrement value, invite suppliers to bid against each other where L1 price is visible to all thus creating open competition while suppliers names are not disclosed. It is ideal for items which are branded or you want to award complete order to a single supplier.
Multiple Reverse eAuction
Fully flexible type of reverse eAuction for single or multiple items to be simultaneously bided. You can select from open price bidding or L1/L2/L3 type bidding option. In open price suppliers can bid first start price at their own. Ideal for competitive bidding among suppliers for raw materials or market commodity items.
Dutch eAuction
The Buyer raises the price from a low starting point until a supplier agrees to sell at a stated price as displayed on the screen, there is no supplier counter bidding. If the supplier feels he can execute the order by clicking on “accept bid price” button to end the eAuction. Ideal for items were there is a huge price gap between supplier quotes, good for high value Capex items.
Multi Currency eAuction
This type of reverse eAuction works well on items which has fixed list price issued by manufacturers and multiple suppliers compete by offering maximum discount against each other. This type of eAuction is ideal for items like Bearings, Tools, Consumer Electronics, etc… can be used before entering into Annual rate contract.
Forward eAuction
Fully user configurable Forward eAuction for single or multiple line items, eAuction can be conducted in open price or H1/H2/H3 type options. This eAuction is widely used for selling excess scrap or excess inventory to dealers & distributors.