How it works?
Sealed-Bid Auction is the most used auction type for high volume purchases. In this auction type executed in rounds, suppliers only possess the information of their ranking which is decided at the end of the round.
Suppliers cannot see the information about the other bids. They are allowed to see their own bids only.
Suppliers see their ranking only at the end of the round. In this way, they reduce their bid every round and enable savings for you.
Automatic Time Extension
Automatic time extension is not available in this type of auction. At the end of each round you can easily manage the auction by eliminating the supplier you want.
The Auction starts automatically when the start date arrives.
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.