07-Jul-2020

Cost savings in both direct and indirect spend

01-Jul-2020

Advantages of Procurement Services & Solutions

01-Jul-2020

E-auction definition and types

Auction Features

5 HIGHLIGHTED FEATURES WHEN YOU USE NEXTPRO AUCTION PLATFORM

Process Optimization

NextPro Platform is built by experienced experts which makes sure for process optimization and compliance

Supplier Performance

A healthy competitive environment motivates suppliers to improve the quality of their products and services.

Improve Competitiveness

NextPro's online real-time bidding platform creates a fairly and effectively competitive environment among suppliers

Significant Savings

Increasing competitive pressure in the process of bidding among suppliers on the real-time platform.

Less Time-Consuming

No need to spend much time on traditional negotiation methods, NextPro E-Auction will bring efficiency in short time.

Auction Process Flow

NextPro auction platform has been adopting trend leading technologies in artificial intelligence, cloud technology, process automation systems and real-time methods, which helps NextPro auction platform are built beyond the world's most stringent standards and compliance.

Registration:
Buyer/Supplier Account Registration

Trigger Auction Request:
Buyers sends request to trigger auction event

Supplier Deposit:
Suppliers signs deposit contract

Auction Creation:
NextPro Team consults and creates Auction Event

Auction Live:
Buyer tracks and Supplier sends bids for auction

Auction Reports:
NextPro Team sends the auction result reports to Buyers

Buyer Awarding:
Buyer awards to suppliers after auction

Refund Process for Suppliers:
Suppliers get the refund for the deposit amount

6 Auction Types

E-Auctions (online real-time bidding platform) via NextPro have proven to be an effective and smart negotiating tool for a wide range of negotiation scenarios. NextPro E-Auction types are designed for not only purely price negotiation but also technical and commercial negotiation.

Traffic light

Supplier will see a color status (green, yellow, red) after submitting own bid. Traffic light colors are based on previously defined price ranges which are unknown to the suppliers (except starting price) and Supplier must underbid own last bid.

English Reverse (Price Auction)

Supplier’s bid and the current best bid will be displayed after suppliers have submitted supplier’s initial bid in a package. The initial bid may match the starting price provided online or can be anything lower than that. Suppliers have to underbid the current best bid if Supplier wish to submit more than 1 bid per package.

Dynamic Reverse (Ranking Auction)

Supplier’s bid and supplier’s current ranking will be displayed after suppliers have submitted supplier’s initial bid in a package. The initial bid may match the starting price provided online or can be anything lower than that. Suppliers have to underbid supplier’s last bid if suppliers wish to submit more than 1 bid per package.

Japanese Reverse

The current price shown must be confirmed in order to qualify for the next price level. The Auction will end with the pre-defined end price or if only 1 bidder is left.

Dutch Forward

The Auction will end with the confirmation of a price shown by the first supplier to confirm this price.

Sealed Bid

Only the best suppliers (number and position of suppliers will be determined by the buyer after the 1st phase) per package/position will qualify for a Sealed Bid. The buyer is asking each supplier selected to participate in the Sealed Bid to place 1 (one) final bid during the Sealed Bid. All competitor information will be shut down and are only visible to Buyer. If no bid is submitted during the Sealed Bid, then the lowest bid from the 1st phase will be taken into consideration. In general, only the best bid of each supplier at the end of both phases will be taken into consideration.