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Administrator Guide
Last Updated: 2023-06-23
Participate in Auctions

Participate in Auctions

The sourcing manager invites you to participate in an auction.
You can participate in reverse auctions that the sourcing manager sets up in advance, or with no notice.
If it's a scheduled auction, you can:
  • Read the auction notes that the sourcing manager provides.
  • Familiarize yourself with the tool.
  • Draft your bids.
  1. On the
    Events
     dashboard, select the auction you want to participate in.
    You can't invite team members to join you in the auction.
  2. Review the auction details in the left hand panel.
    The sourcing manager can decide the expected duration of the auction, or whether they want to extend the duration. You can always view how much time remains in the auction using the timer at the top of the page.
  3. If your sourcing manager has already set a date and time, you can enter pre-bids using
    Set Draft Bid
    .
  4. When the auction starts, enter bids on the items you want to bid on, and click
    Place Your New Bid
    .
    Strategic Sourcing can inform you of your rank. Ranking feedback displays if you submit bids. If you don't submit a bid for a line item, feedback doesn't display.
  5. To apply a percentage discount to all your bids, enter a number in the
    Decrease New Bid By
     field. You can also manually reduce prices by line item.
    Reduce your prices to improve your competitiveness.
When the auction ends, your sourcing manager notifies you of your final ranking based on your configuration.