Auctions Simple and Advanced Bidding. Bidding on an Auction. Place a Simple Item Bid

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1 Auctions Simple and Advanced Bidding Bidding on an Auction The focus of a reverse auction is to submit a bid that is lower than the previous bid, conforming to the minimum change defined in the bidding rules. The auction page includes lot and line item bid information for the auction. Line item bid information across the auction will not be displayed until a bid has been placed on that line item. If the buyer has set this option, your rank will display for the item. The system provides a great deal of flexibility for entering bids and running auctions. Bidding activities may include: Entering simple item and lot bids Setting up proxy bids Bidding on forced lots Participating in staggered auctions (auctions where individual items close sequentially over time, rather than all of the items closing at the same time.) Entering discount bids Place a Simple Item Bid To place a bid for a single item: 1. Click the Bid button at the far right of the item. The Bidding Area is displayed with the item s bid fields activated. 2. Enter your bid in the fields provided (Fields vary depending on what was selected by the buyer): Copyright 2014 Exostar LLC All Rights Reserved 1

2 My Minimum Bid Quantity if Partial Quantity Bidding was selected by the buyer, the minimum and maximum bid fields may be present. My Maximum Bid Quantity Price Per Unit Required Base Price or One Time Charge examples of other fields that may be displayed 3. Click the Submit Bid(s)>> button when done. The Confirm Bids dialog box is displayed. 4. Review your bid in the pop-up window, and then click OK to verify the bid. The bid is immediately submitted to the buyer. 5. The bid is displayed in the Status Area of the auction window. Place a Simple Lot Bid The supplier can bid on the entire lot. To place a bid for an entire lot of items: Copyright 2014 Exostar LLC All Rights Reserved 2

3 1. Click the Bid button at the far right of the lot. The bidding area is displayed with the bid fields activated for all of the items in a lot. 2. You can bid on the entire lot. Enter the values for all of the items in the lot. 3. Click the Submit Bid(s) >> button when done. 4. Click OK to confirm the bids for all items in the lot. Note: Check the yellow message in the bottom left section called Bidding Area. It should say Bids Submitted Successfully. If the message indicates an error, hover over the pink highlighted error message in the Status column. 5. Once you have bid successfully, the bids are displayed in the Status Area. Copyright 2014 Exostar LLC All Rights Reserved 3

4 Monitor Other Suppliers Bids You can monitor the auction and look at the bids from other suppliers as they come in. The display has the values, but does not identify the suppliers by name. The information presented to you is determined when the Bidding Rules are defined. The Price and Rank information that may be presented to you and the other suppliers includes: Best Bid Unit Cost the bid that is currently winning My Unit Cost - your current bid Rank your current rank for each item and lot You will want to monitor the bids and your rank in the auction. Depending on your bidding strategy, you can take action as necessary to win the business. Revise Bids Revise your bids as appropriate. You can also have the system automatically calculate your next bid. For example, if you are no longer the highest ranked bidder on a line item (Rank = 1), you can select the Take Lead button. This will reduce your bid to the value of a leading bid and show you what is needed to take the lead. The suggested bid price is automatically calculated by the system. You can then submit this bid or adjust it as necessary. Copyright 2014 Exostar LLC All Rights Reserved 4

5 You can also select the Minimum Change feature. This will reduce your bid by the minimum decrement amount or percent defined in the auction bid rules. This suggested bid price is also automatically calculated by the system. You can submit these values or enter new values directly into the Price Per Unit field. Click Submit Bid(s)>> when done. You can continue to monitor the event and adjust bids as appropriate to your business needs and bidding strategy. Note: You must submit an initial bid before using the Take Lead or Minimum Change options. Bidding Error Messages When an error message occurs, the bid values are reset to the current version and you are able to make changes as needed. Some bid scenarios can trigger error messages and block your bid submission. Some examples: If you submit a bid that does not meet the minimum change criteria If Partial Bidding is not enabled and you do not have the full quantity for an item If your bid does not meet the minimum or exceeds the maximum quantity values. Place the cursor on the Error message, a text box is displayed with the details of the error. Copyright 2014 Exostar LLC All Rights Reserved 5

6 Proxy Bidding If Proxy Bidding is enabled, you can enter a value for each item that is the floor for your bidding. The floor is the lowest you want to go. The minimum change is automatically applied to your bids to maintain Rank 1 status until the floor is reached. To set a Proxy Bid: 1. Click on an Item or Lot s Bid button to display the Bidding Area. 2. Click Define Proxy Rules on the right side of the Bidding Area. Proxy Setup field is displayed. 3. Enter a value that will be the floor for your bids for this item. 4. Click the Save Proxy Setup button. 5. Your Proxy Bid is saved and the Bidding Area redisplays the item bid fields. 6. As other suppliers enter bids on this item, your bid will automatically adjust and resubmit to keep you in first place, or until the bidding reaches the previously defined floor value. Bid on Forced Lots When a lot has a Bid button, but the individual items do not have Bid Buttons, this is a Forced Lot. You must bid on all of the items in a forced lot. Quantities are fixed and no partial bids are accepted. Results are judged at the lot level, not item level. When you revise bids and if the buyer allows, you can raise the bid of one item in a lot while decreasing others, so the overall effect is that the lot price decreases and meets the minimum change criteria. Copyright 2014 Exostar LLC All Rights Reserved 6

7 To Bid on a Forced Lot: 1. Click the Bid button at the far right of the Lot name. The Lot is displayed in the Bidding Area. 2. Enter the Price Per Unit for each of the item in the lot. 3. Click Submit Bid(s) >> when done. 4. Click OK to confirm the Bid. 5. Click the Requirements icon to display the minimum change values for the overall lot. 6. You can adjust your item bids as necessary as long as the overall lot value achieves the required value listed in the window. 7. Click Submit Bid(s) >> when ready. Staggered Auction Bidding In a staggered auction, all items are open for bidding, but each item (or lot) closes sequentially until all items are closed. The staggering can be at the Item level or at the Lot level. When a staggered auction is in a Pending status, all items are visible but no bidding can take place. Once the auction changes to an Open status, the first item is highlighted. This item is the focus of the next bids. All other items can receive bids, but the current item is highlighted. The Time Remaining refers to the item that is visible or currently being bid upon. Bidding continues until all items (or lots) have closed. When an item closes, the display for that row turns to gray. Copyright 2014 Exostar LLC All Rights Reserved 7

8 Discount Bidding An auction may be created that uses discount bidding against a fixed Base Price. In Discount Bidding, the bid values go up since you are increasing the discount and in effect, decreasing the price. To enter bids in a Discount Auction: 1. Click the Bid button next to the item that you wish to bid on. The bidding area is displayed. 2. Enter the discount value for each item. (This is a percentage discount off of the base price.) 3. Click the Submit Bid(s) >> button when done. 4. Click OK to confirm the bids. 5. Use Take the Lead or Minimum Change for the item or lot to help guide your bids. 6. Click check box(s) for items within a lot that you want to change. 7. Click OK when done. 8. Continue monitoring the event and revising your bids as necessary. Copyright 2014 Exostar LLC All Rights Reserved 8