Auction Types
There are two main auction types that can be used to secure end-of-life disposal for items within this module. Both approaches are configurable, and In-tend can assist the user in setting up the best fit for your business. Managed auctions on your behalf can be facilitated, if required.
Forward Auction
A Forward Auction is perhaps regarded as the more typical auction process. In a Forward Auction, suppliers will increase their bids in an online competitive process and the sale is granted to the highest bidder when the window for bids is closed.
Reverse Auction
A Reverse Auction uses an approach where suppliers compete to provide the lowest value they would accept to be paid for a good or service. The supplier with the lowest bid wins the auction.
Flexibility
Auctions can be tailored to suit the requirements of the user.
Transparency
Buyers can dictate the amount of information suppliers can view.
Real-Time
Buyers can see live bidding activity with the assistance of charts.
Weighting
Auctions can be simply based on price, utilise a coefficient and/or take additional scoring into account.
Module features
- Ability to be utilised as a standalone module or in tandem with e-Tendering for use as a stage within a project.
- Full flexibility allows for the auction to be tailored to suit the requirements of the organisation.
- Buyers see live bidding activity in real time.
- Visual representations show bid progress, savings and status.
- Forward auctions allow for end-of-life asset disposal.
- Reverse auctions provide an online competitive process showing bid reductions.
- Full auditability showing the actions undertaken within the auction.
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Related Products
Our modular products are built to work seamlessly with each other. If you're interested in our e-Auctions module, you may also find benefit from some of these products.
