E-Auction Solutions with Expressive Bidding and Expressive Feedback
Gain a deeper understanding of supplier competitiveness through a next-generation e-auction solution
The advanced sourcing capabilities of CombineNet ASAP® empower users to create and manage E-Auction sourcing events that go beyond typical online reverse auctions, providing the tools buyers need to employ different strategies to engage the market and generate additional cost savings.
Advantages of our e-auction support
- Collect insight on multiple cost components, not just unit price.
- Gain a better understanding of supplier competitiveness.
- Learn which price elements (e.g. material, production, labor, freight) are influencing bids.
- Drive price compression.
Through its e-auction functionality, CombineNet ASAP offers users the ability to collect Expressive Bids and deliver Expressive Feedback on multiple cost components, rather than just on a unit price. This gives buyers the ability to gain a better understanding of supplier competitiveness, and provides suppliers with more guidance on which price elements of the item (material, production, labor, freight, etc.) they can focus on to deliver more competitive bids.
Additionally, CombineNet ASAP also delivers the industry's only e-auction solution that leverages Optimized Scenario Analysis to create more strategic sourcing options for buyers to utilize auction events as one element of their strategy to reduce costs and improve sourcing decision making. Buyers can use E-Auctions to drive price compression, and then use CombineNet's industry-leading bid analysis and optimization technology to evaluate the leading suppliers based on their bids, RFI responses, supply capacity, and total value alongside internal business rules, award preferences and risk profiles to make the best award decisions.
CombineNet offers multiple E-Auction types that enable buyers to utilize different sourcing strategies to engage their suppliers, including Standard Reverse, Dutch Reverse, and Japanese Reverse Auctions.
E-Auction Options through our E-Sourcing Solution:
- Standard Reverse Auction: a competitive bidding event where multiple suppliers place bids on one or more items. Suppliers are provided feedback in near real-time on the competitiveness of their bids in relation to other participating suppliers, in an effort to drive the price of the items down.
- Dutch Reverse Auction: an interval auction, where the unit price of each item is automatically increased by specified values at pre-defined time intervals. The first supplier(s) to accept a bid price on each item is the leader on that item.
- Japanese Reverse Auction: an interval auction, where the unit price of each item is continually decreased from the starting price according to a configured value and time interval. Each supplier competing for an item must accept the item unit price at each interval to remain in competition for that item; when only one supplier accepts the unit price for an item in an interval, that supplier is considered the leader for that item.
More on our E-Sourcing Advantages
A detailed White Paper on CombineNet’s Advanced E-Sourcing technology.