eAuction on Glucose Syrup - identified savings of 35 %

Situation

  • Our client, a large global retailer, was looking to purchase Glucose syrup for food manufacturing in Russia
  • The eAuction was conducted as a Cherry Picking auction with two lines, divided on destinations, allowing the buyer to select the best price per destination

Solution

  • 4 participating suppliers
  • Suppliers were required to bid on two independent product lines and quote their DDU/kg
  • The total volume included in the auction was 2.760 kg glucose syrup
  • One winner per line
  • This event was ran as a Cherry Picking Auction
  • All suppliers had individual starting prices
  • Prices from the RFQ were very competitive - average price difference between suppliers was not more than 1,2 %

Result

  • Very high bidding activity
  • 209 bids received in 1 hour and 48 minutes (including 88 minutes time extension)
  • Identified total Savings: € 406.350
  • Savings in relation to Current Price: 35%