Reverse Auction
Make your suppliers race against time
How it works?
Reverse Auction is the most known and preferred auction type among the society. It is easy and comprehensible to the suppliers due to its simple rules and nature.
Basic Auction Rules
Auction rules are the characteristics that determine the purchasing strategy and the competitive environment. Examine the rules of the Reverse Auction and decide whether it fits your strategy.
Lowest Bid
The lowest bid (up to 4 bids) is visible to all suppliers.
Ranking
Suppliers do not see their ranking. This way, they reduce their bids according to the lowest bid.
Automatic Time Extension
Automatic Time Extension occurs if the bid ranking changes below a time limit set by the buyer. This way, sustainability in the competition environment is achieved.
Addable Auction Rules
By adding different rules to your auction, you can customize your purchase, collect different information from suppliers and increase your savings.
Auto Starting
The Auction starts automatically when the start date arrives.
List Price
You can present the items with a list price to your suppliers. Bids over the list price get marked red as a warning on the supplier's screen. However, such bids cannot be blocked.
Item-Based Delivery Date
Allows suppliers to specify a delivery date on an item basis at the time of bidding. In this way, you can also consider the delivery dates, not just prices, when comparing your suppliers.
Bid Increase Limitation
You can prevent suppliers from increasing their current bids.