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%
