Concept: Auction Rules
When the sourcing manager sets up an auction, they can configure auction rules:
Auction Rule | Description |
|---|---|
Minimum decrement | The sourcing manager can set an amount by which you must decrease your total bid
each time you submit a new bid during the auction. |
Extension | The sourcing manager can set time extensions for the auction. They use time
extensions to extend the auction when a new bid is submitted near the end of an auction,
ensuring that all suppliers have a fair chance to bid. Example: The sourcing manager
extends the auction by 2 minutes if a new bid is received within the last 2 minutes of the
auction. |