Real time bidding, faster supplier communication, and evaluations reduces negotiation cycles from weeks to hours
Save money
Increase competition among suppliers under time pressure to unlock the most competitive, market-aligned rates
Build Transparency
Create a clear, auditable trail of every bid, rank, and supplier interaction – improving fairness and trust in the process
Standardize Processes
Apply consistent auction formats, rules, and evaluation criteria across sourcing events to ensure repeatable success
Sourcing Acumen eAuction platform has promising capabilities
Minimum bid reduction
Ensure meaningful competition by setting a minimum decrement suppliers must meet with each new bid.
Supplier Rank & Lowest Bid
Give suppliers visibility into their rank or the current lowest bid to encourage active participation and sharper pricing.
Automatic deadline extension
Prevent last-second bid sniping by auto-extending the auction deadline when a new bid is placed near closing time.
Transparent bidding rules & Award criteria
Establish clear, upfront rules and evaluation logic to build trust and drive fair competition among suppliers.
Pre-qualify suppliers
Limit participation to vetted suppliers based on capabilities, compliance, or RFI responses to ensure quality outcomes.
Pre-bid
Enable suppliers to submit pre-bid to save time.
360 degree collaboration
Collaborate with your internal stakeholders to provide real-time visibility.
Sourcing Acumen support advanced eAuctions
Multi-currency eAuctions
Suppliers can bid in their preferred currency, while the platform automatically normalizes all bids to a base currency for accurate ranking and comparison.
Cost transparency
Collect detailed cost breakdowns from suppliers e.g. raw materials, freight, and packaging – while still driving competition on total landed cost.
Qualitative factors
Capture non-price inputs like supplier capacity, minimum order quantities (MOQs), or lead times, and incorporate them into ranking and award decisions for a more balanced evaluation.