4.4 Open Bids

An open bid is a reverse auction. Every invited supplier competes on price until the closing time, and can lower their price as often as they like.

How It Works for Suppliers

1. First bid: A supplier must place a bid before they can see anyone else's prices. They price every item on the request and click Place bid.
2. Bid room: After that first bid, the request opens in the bid room, with a countdown, the supplier's rank, their own total and the lowest total so far.
3. Item by item: Each line shows the lowest price offered for that item next to the supplier's own price. Take Lead fills in the lowest price on every line in one click.
4. Bid again: Each new bid replaces the supplier's previous one, until bidding closes.
5. Leaderboard: Bidders are ranked by total price, and the board updates live. Other suppliers appear only as Bidder A, Bidder B and so on, never by name. When two totals are equal, the earlier bid ranks higher.
6. Live bid panel: While an auction is running, a small panel in the corner of every portal page shows the time left and the supplier's position. It can be minimised or dragged.

The bid room works on phones too:

The Bid Log

Every bid is saved in an RFQ Bid Log entry with the supplier, revision number, time, user, totals and item prices. Bid log entries can't be edited or deleted, so you have a full audit trail of each supplier's prices over time.

Find them under RFQ Bid Log in Desk.

When Bidding Closes

• Each supplier's Supplier Quotation holds their latest bid.
• Staff review and submit the quotations, then make the award. See Awarding Suppliers.