Steps: Set Up Auction Participation
You must receive an invitation to participate in
an auction.
Workday Strategic Sourcing is a cloud-based procurement tool that you can use to easily and
quickly streamline your procurement process.
When the sourcing manager invites you to
an auction, in this case, a reverse auction, you can accept or reject the
invitation, depending on whether your company meets the conditions of participation
and statement of requirements.
A reverse auction is an auction where suppliers bid for the lowest prices they’re
willing to sell their goods and services.
You've competed in an auction.
If you won the auction, the sourcing manager
will contact you to arrange payment for your goods or services.