Multiple Auction Formats for Every Scenario
Match the auction format to the category — from standard cost-reduction events to complex, multi-lot bidding.
Reverse Auction and Forward Auction — reverse auctions let multiple suppliers bid down against each other for a cost-reduction event, while forward auctions run the opposite direction, useful for asset disposal or surplus sales, both live inside the same auction engine.
Dutch / English / Rank Auctions — beyond the standard reverse/forward format, the suite supports Dutch auctions (descending price), English auctions (ascending price), and rank-based auctions (where suppliers see their relative rank rather than exact competitor prices), covering the auction mechanics most categories need.
Parallel & Lot-wise Auctions — complex, multi-item sourcing events can run as several lots simultaneously, each with its own supplier list, reserve price, and closing time, all visible from a single consolidated event dashboard instead of managing separate auctions by hand.
Item-wise Bidding — within one auction event, bidding can happen at the individual line-item level, so a supplier's overall competitiveness doesn't hide weak pricing on a specific item buried inside a bundled bid.
Serial Bidding — this runs price discovery item by item in sequence rather than all at once, which suits categories where suppliers need to see the outcome of one item before pricing the next.