Reverse Auction

Overview:

The acquisition methodology of the reverse auction offers the procurement professional a new dynamic forum for obtaining goods and services. By automating and integrating all components of the procurement process, our seamless reverse auction application gives public agencies the ability to create, manage, analyze and report on their own strategic sourcing initiatives. The reverse auction portion of your ePortal offers wide- ranging procurement solutions that provide compelling benefits helping you to generate bottom-line results.

To create a Reverse Auction Bid Solicitation, select Bid Document Administration on the left side of your screen in your Agency Center window. You will be presented with a 'document wizard.' Click on the radio button next to 'Reverse Auction' and press the 'Next' button at the bottom of the page. You will be asked to confirm that you want to create a reverse auction - click 'OK' to continue. As can be seen in Image #1, you are presented with two auction templates: (1) a 'Services Auction,' and (2) a 'Commodities Auction.'

In a 'Commodities Auction' you may list multiple items. Vendors may submit bids on a line item basis. Awards may be made to the low bidder for each line item or may be awarded to the low bidder for all items. Each product on the auction listing must be entered as a line item with product name, description, quantity and unit of measure.

With a 'Services Auction,' the vendor must place a bid on the auction as a whole. Here, line details do not have to be entered. NOTE: A 'Services Auction' may also be used for construction projects.

The following tutorial explains the benefits and features of the reverse auction with concise instructions on how to use this powerful eProcurement program as a dynamic new tool for your agency.