Create Reverse Auction At Item Level_New interface

For the auction at each item level, the focus is on conducting a thorough analysis of the offer. This includes considering the quotation, starting price, and minimum increment for each individual product or service. The buyer has the flexibility to choose multiple winners for the same event, evaluating each line separately.

Like any event, the reverse auction is created as part of the Event page using the “Create event” button in the upper-right area.

Add event modal appears. You must add the project where you want the event to be created. Then click “Save”. 

Each auction in Prokuria contains 4 sections: General info, Attachments, Settings, Suppliers, and Items.

Section 1: General info

Section 2: Settings

Check: Auction at each item level

Cool-down period: it is the period expressed in minutes by the user, placed at the end of the auction, within which any change to the best suppliers leads to an extension of the auction deadline by the same

Show best bid to suppliers: if checked, all participating suppliers will see the value of the best bid you received. However, they will not know the name of the supplier with the best bid.

Show rank to suppliers: if checked, the supplier can see its position versus other participants.

Show starting price: if checked, fill in the Starting price field and suppliers will not be able to place a higher bid than this

Total starting price: the total starting price (sum of all items and quantities) that you will accept

Minimum step: minimum bid difference: consecutive Total bid (sum of all items and quantities) from one supplier must have this minimum difference

Currency: the currency of the event

Rounding: the number of decimals for Bids related fields

Allow multi-currency: multi-currency

Allow adjustment factor: adjustment factor

Section 4: Suppliers

Section 4: Items

  • Starting price/um – minimum value accepted at the item level (per unit of measure). Suppliers will not be able to place a quote higher than the starting price for the respective item.
  • Minimum step/um– the minimum difference with which a new bid at the item level of the same supplier must be smaller than its previous bid for that item.

Once all the required fields have been completed, the auction can be published to the suppliers by clicking on the “Publish event” button. 

The event thus goes into the “Published” or “Started” status and the suppliers receive an email inviting them to participate.