First Time for an eAuction
The buyer, a large global manufacturer that had never run an eAuction before, needed to purchase flat glass. 5 suppliers were invited, no others were sourced - however, only 4 participated.
There were 3 different bid packages that the buyer wanted to award to 2 suppliers. 1 supplier would receive 2 bid packages and 1 supplier would receive the remaining bid package. 3 of the 4 suppliers were located in China.
Including Transportation Costs as a Parameter
- Selected a CherryLot Auction format for the event
- Suppliers had transportation cost parameters added, so it would be a like-for-like comparison from the beginning
- There were 20 line items spread across the 3 lots, so the supplier's RFP pricing was transferred as individual start prices. This way the suppliers only needed to improve the lines they were not leading on
Increased Savings of 14.73%
- >14.73% savings vs. current pricing
- 206 total bids placed
- Bidders were able to start bidding from their own initial bids
- There was over an hour of extensions, which meant increased savings for the buyer
- The auction lasted 1 hour and 34 minutes
