Reverse auctions & Forward auctions
There are two types of auctions for which buyer can invite you to participate: Reverse auction and Forward auction. Reverse auctions are eAuctions where suppliers submit online bids to compete against each other. Unlike forward auctions, where bids increase as the auction progresses, in reverse auctions, bidding starts with the highest possible price and decreases gradually. The procedure of giving offers for these types of requests is same:
- Open the request on Items tab;
- Click “Submit offer” button if you want to give quotes online or “Download Item List” if you want to quote via excel file;
- Enter offer online or add it in excel file;
- Save entered offer online or click “Upload offers” button if you quote via excel file.
After you give quotes, the button “Submit offer” will be still active and when clicking on “Show more offers/Hide offers” you will have a possibility to see all offers you submitted until auction is ended.
After offer is added, you will see ranking and may decide if you want to improve you offer. Ranking will be updated each second.
Please, always pay attention for the “Time remaining” at the top of the request. Also be aware that the last offer made will be always displayed at the top of the list. No matter if it was submitted online or via Excel file.
Please note, that the buyer can pause the auction. Then button “Submit offer” will not be active until buyer again plays the auction