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One eAuction for 2 Different Destinations

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

Using a Cherry Picking eAuction to Increase Competition

  • 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 of glucose syrup
  • One winner per line
  • This event was run as a Cherry Picking Auction
  • All suppliers had individual starting prices
  • Prices from the RFQ were very competitive - the average price difference between suppliers was less than 1,2 %

35% Savings on Current Price

  • Very high bidding activity
  • 209 bids received in 1 hour and 48 minutes - including 88 minutes extension
  • Identified total savings: € 406,350
  • Savings in relation to current price: 35%