Setting up reverse auctions

Use this procedure to create reverse auctions at the event line level.

  1. Sign in as Sourcing Manager and select Create Events.
  2. Open an event.
  3. If event lines already exist, or only some event lines can be a reverse auction items, then set these fields on the appropriate event lines:
    Lowest Bid Option
    This field is available when creating an event with standard entry. Use this field if an event line is a reverse auction, where each supplier must specify a price that is less than or equal to the lowest price that is currently submitted. This field is not allowed on sealed bid events.
    Display Lowest Bid Amount To Supplier
    This field is available when creating event lines. Select this field to show the current lowest bid amount on the Supplier Portal. This field must be selected if the Lowest Bid Option is set. This field is not allowed on sealed bid events.

    You can select this field without the Lowest Bid Option if you want suppliers to see the lowest bids, but are not required to specify the low bid.

    Require Full Quantity
    This field is available when creating event lines and adding even detail. Select this check box if a supplier is required to specify the full line quantity when responding to an event.
  4. Click Save.