1. Chapter 2: Creating and Setting Up an Auction

Creating an Auction event involves tasks such as setting up the event, specifying the items to be purchased, inviting suppliers, compiling the final information of the bids, and awarding a supplier.

An outline of the Auction creation process is given below:

2.1 Creating a Regular Auction

To create an auction:

1. Click Create Auction button in the top right corner.

OR

2. Click the Create menu on the left panel.

3. From the list of documents displayed, click Auction.

4. The Select Auction Type page is displayed.

5. From the list of available Auction types, select the required auction type and auction method, then click Create.

Field	Description
From Blank	Allows you to create a new Auction from scratch.
From Template	Allows you to create Auctions from templates.
From an Existing Auction	Allows you to create Auction from an existing Auction.

6. Then, on the subsequent pop-up, select the required auction method, and click Create.

7. The auction document is then created and displayed:

2.2 View Event Summary

The Event Details tab on the Auction page summarises the entire auction event in the form of cards before the section begins. It gives an overview of the event summary, savings statistics, and bidding in the event.

The cards show the following information:

• Event Summary: Displays the Event Number, Author Name, Auction Type, and Auction Method for the Auction event.

• Savings Statistics: Displays the Event Value, Total Historical Price, and Total Awarded Price in the Auction Event.

• Bidding Overview: Displays the count of suppliers who Participated, invited to the Auction event and, from those, the count of suppliers who were Awarded in the Auction Event.

Following are the different sections on an auction document:

• Basic Details

• Timeline

• Guidelines

• Lots

• Suppliers

• Team Members

• Comments and Attachments

• Related Content

2.2.1 Basic Details

The Basic Details section lets you capture the basic information such as name, event currency, event value, description, type of auction along with the category, business unit, and region scope of the event.

2.2.2 Timeline

The start date and time and end date and time for an auction are determined based on the earliest start date for a lot and the latest end date for a lot.

The Timeline section displays the start date and time and the end date and time-based on this.

2.2.2.1 Managing Timelines

You can modify the timelines for the auction event by modifying the lot timelines, according to your requirements.

1. Click Manage Timelines.

2. Click the timeline for the required lot. Based on changes made, the overall duration of the event, the start time, and the end time is updated at the top.

3. Click Save to save changes made and stay on the same page.

4. Click Done to save changes made and navigate back to the previous page.

2.2.3 Guidelines

This section enables you to add guidelines for the supplier to follow when participating in the auction event.

You can create guidelines using the following options:

• Add

• Add From Repository

2.2.3.1 Creating New Guideline

To create a new guideline:

1. Click Add. The Guideline page opens.

2. In the Guideline Name field, enter a valid name.

3. From the Guideline Type field, select the required guideline type.

4. From the Acknowledgement from Supplier field, select the required option:

   1. Before participating in the event: If this option is selected, the supplier must accept the mandatory guidelines to submit the response.

   2. Not necessary: Allows the supplier to directly participate in the event without accepting any guideline type.

5. To add any attachments, click Add Attachment, locate the file, and click Close. These attachments are available to the Suppliers when they review the guidelines to respond for the event.

6. In the text box, enter the content for the guideline.

7. Click Push to Repository to push guideline to repository for later use.

8. Click Save.

9. Click Done.

2.2.3.2 Adding Guideline from Repository

To add a guideline from the existing repository:

1. Click Add from Repository.

2. The Guidelines - Add from Repository page opens.

3. From the Guidelines pane, select the required guideline.

4. Click Add. The selected guideline appears in the Guideline section.

5. Click Delete to delete the selected guideline.

2.2.3.3 Push to Repository

You can push required guideline to Repository for later use.

To Push guideline to Repository:

1. Select the required guideline and then click More >Push to Repository.

2. A popup is displayed as Guideline(s) pushed to repository successfully.

2.2.3.4 Rearrange Guideline

You can rearrange the guidelines such that they can be presented to the suppliers in a logical sequence or start with the most important guidelines first and so on.

To Rearrange Guideline:

1. Go to More>Rearrange.

2. The Rearrange slider window is displayed.

3. Drag and drop the required guideline and then click Done.

4. A success message is displayed as guidelines have been rearranged successfully.

2.2.4 Lots

Lots enable you to publish the items you are looking to purchase. Details for each item type is entered as a line item in the lot. A lot can have multiple line items, each capturing information for a specific item type. You can also have multiple lots in an event. Within each lot, you are to mention certain details. These details may vary depending on the event settings and the type of auction. You can create a new one or add a lot to an existing event until the auction is live.

You can create Lot using the following options:

• Add

• Add From Item Master

• Add From Repository

2.2.4.1 Creating a Lot

1. Click Add to create and add a new lot.

2. The Auction Lot page is displayed.

3. Enter Lot Name and Lot Description.

4. Enter Start Date & Time and End Date & Time for the lot.

5. Overall Start Price: It displays the total starting price applicable to Suppliers at the lot level.

6. Safety Net: This prevents accidental or unintentional spikes in consecutive bids by restricting a bid difference of greater than 80%.

7. Add information about the items that you want to capture in the lot using the grid provided.

8. Go to More and then click Lot Settings to add settings to the Lot.

9. You can view standard columns based on the selected type. However, you can configure the columns using the Manage Columns button.

10. a) Go to More and then click Manage Columns to configure columns.

11. b) The Manage Columns page is displayed.

12. c) Update the column name, if needed.

13. d) Select the desired type for the corresponding column.

1. i) Drop-Down Type column is a customizable column where you can create a list of options for users to choose from, and you can decide whether buyers or suppliers can edit the values in this column.

2. ii) For a Computed Type column, you can now use advanced formulas, such as Max, Min, Avg, and If/Else conditions, for configuring the column. Click the Settings icon to view the Formula Editor page.

1. For Attachment Type column, you can now add a new custom column as an attachment type allows you to add attachment to each row which act as a reference document specifically for that line-item.

1. e) To delete the column Select it and click Delete Column.

2. f) To add more column, use the Add Column button. An Add column box is displayed enter the number of columns that you want to create and click on check mark.

1. g) The new custom column is created. For custom columns of Numerical, Currency, and Percentage types that are marked for Supplier Input in a mandatory fashion, you can specify if they need to follow a competitive bidding nature. By default, Not Applicable is selected you can now mark them as Incremental Bidding or Decremental Bidding as required. . You can provide a starting value for these columns, which will pre-populate on the Supplier side. If no starting value is provided, then the Supplier can enter their own starting value as required.

10. Click More to Export and Import a lot. Click Export lot grid information into an Excel template for offline modifications and then import it back using the Import capability.

11. Click Save to save the changes made and stay on the same page.

12. Click Done to save the changes made and navigate back to the auction event.

13. Using Grid Actions, you can add or delete rows.

14. Lots added are displayed as follows:

15. You can search for an added lot by using Search Bar.

16. Click Add to add another lot.

17. Click the delete icon to delete the Lot.

18. Click the copy icon to copy a Lot.

2.2.4.2 Add From Item Master

To add item from item Master:

1. Click Add from Item Master.

2. The Select Item from Item Master page displayed.

3. You can search an item using Search Bar.

4. Select the required items and then click Add.

5. The Auction Lot page is displayed.

6. The item is added in the below lot grid.

7. Click Save to save the details.

8. Click Done once the details are added.

2.2.4.3 Adding Lot from Repository

To add a lot from the existing repository:

1. Click Add from Repository.

2. The Lots - Add from the Repository page displayed.

3. From the Auction Lot pane, select the required Lot.

4. Click Add.

5. A successful message is displayed. Click ok to proceed.

6. The selected Lot appears in the Lot section.

7. Click Delete to delete the selected guideline.

2.2.4.4 Push Lot to Repository

You can push the required Lot to the Repository for later use.

To Push Lot to Repository:

1. Select the required Lot and then click More>Push To Repository.

2. A confirmation message is displayed click Yes to proceed.

3. A popup is displayed as Lots pushed to repository successfully.

2.2.4.5 Rearrange Lots

You can rearrange the lots that can be presented to the suppliers in a logical sequence as required.

To Rearrange Lots:

1. Go to More and then select Rearrange.

2. The Rearrange Lots slider window is displayed.

3. Drag and drop the required lots as applicable and click Done.

4. A message is displayed as Lots have been rearranged successfully.

2.2.5 Suppliers

The Suppliers tab enables you to select and add suppliers to the auction event.

1. Click Add From Repository to add existing suppliers.

2. The Add Supplier(s) From Repository page is displayed. The event scope (Category, Business Unit, and Region) will be applied as a default filter on the Add Suppliers from the Repository page. You can remove these filters, if required, to view the full list of suppliers.

3. On the Add Supplier(s) From Repository page, select the required suppliers, and click Add, as shown below:

4. Suppliers are added and displayed in the Suppliers section.

5. Select the required supplier(s) and click Delete, to remove them from the event.

6. You can also assign a secondary supplier contact as a Viewer for an auction event. The viewer contact will also have the same level of visibility access as that of the primary respondent in terms of bids placed by competitors and rankings.

To assign secondary supplier contact as a viewer:

7. Click on the supplier’s name. The Edit Suppliers page is displayed.

8. Under User’s Role column select Viewer and click done.

2.2.5.1 Assign Lot to Specific Suppliers

You can assign each lot to specific set of suppliers(s).

1. Navigate to Suppliers section.

2. Click More and then select Assign Lot.

3. The Assign Lot page is displayed.

4. Deselect the supplier on the required Lots.

5. Click Save or Done to make the changes.

2.2.6 Team Members

The Team Members tab enables you to add team members to your auction. Team members can view supplier responses and thus help you monitor the auction process.

1. Click Add. The Add Team Members slider window is displayed.

2. Select the required members. You can either select individual users from the Users tab or the entire group from the Group tab.

   1. In the Users tab, select the required members. Using the Search field, you can also search for a team member by Client Contact Code.

2. In the Groups tab, select the required group which contains a group of users. You can also search a group in the Search field.

3. Click Add. The selected user/group is added and displayed in the Team Members section.

4. Select the Supplier Contact check box to make that member as suppliers’ point of contact and display the contact details to the suppliers.

5. Using the Co-Author column, you can assign co-authoring rights to the team members.

6. Select the required team member(s) and click Delete to remove them from the event.

7. Click Add to add more team members.

2.2.7 Comments and Attachments

This section explains how to add additional documents to auction event. You can either add comments, or attachments, or both.

To add Comments:

1. Select the Comments tab.

2. Enter the comment in the text box.

3. Select the Classification from the drop-down list.

4. Select User Visibility from the drop-down list.

5. Click the Post icon to post the comment.

6. The comment is added and displayed in the section.

7. Click the action icon to Pin or Delete a Comment.

To add Attachments:

1. Select the Attachments tab.

2. Click Browse to locate and select the documents. The selected document(s) is uploaded.

3. Select User Visibility from the drop-down options.

4. Click Done. The uploaded document(s) are displayed in the section.

5. You can download and delete the attachments from the Actions column.

6. Click Download to download the attachments.

7. Select the required attachments and click Delete to remove the attachments.

2.2.8 Related Content

This section displays information of any linked documents related to the auction. This section will display information once there is a linked document from which the auction was created.

2.2.9 Approval Summary

This section displays the approval summary of the ongoing approval cycle or the most relevant approval cycle of the event.

2.2.10 Factsheet

Factsheet is a one stop destination and a runtime reporting model where information pertaining to source documents like RFx, Auction, Projects, and Contracts can be stored. It is treated as a summary document and integrated within the approval workflow of the mapped document.

You can generate a Factsheet using this section if the Enable Factsheet in Auction setting is set to True. By default, this setting is set to False.

1. Open the required Auction document.

2. In the Factsheet section, click Generate Factsheet

3. The Manage Factsheet slider opens displaying saved Factsheet templates.

4. Select the desired template. If you know the template name, use the Search box to find the template. Use the pagination to browse and select the template. This selected template will not appear while generating additional Factsheets.

5. Click Generate. The Factsheet is generated successfully.

6. Perform the following actions on the generated Factsheet:

7. a) Click the Factsheet name to view it.

8. b) Click    to download the Factsheet.

9. c) Click    to preview the Factsheet.

10. d) Click Generate Factsheet to generate additional factsheets for the RFx document.

Once the Factsheet is generated, you can view its status in the Statuses column. The statuses are shown in colored chips, where:

• Completed & Approved are indicated in Green.

• Draft, Approval Required, Approval Withdraw, & Approval Pending are indicated in Grey. 

• Approval Rejected is indicated in Red.

2.3 Creating Auction from Template

This section explains on how to create an Auction from a template.

To create an Auction from a template:

1. On the Auction Workbench page, click Create in the left pane.

      OR

2. Click Create Auction on the top-right corner of the auction workbench page.

3. The Select Auction Type page is displayed.

4. Select From Template. The Auction saved as templates appear below.

5. Select the required template.

6. Click Create. The Auction details page opens.

7. Enter the required details in all the sections to create an Auction.

8. You can view and edit the auction template. To edit or view click on Templates from the Auctions workbench page.

9. Select the required template and the template is opened.

10. Make the required changes and click Save to save the template.

11. Click Use Template to use the template for the auction creation.

2.4 Regular Auction Event Settings

Event settings help to define the rules for running an auction event.

1. To access auction event settings, click More on the top-right corner of the auction document, and click Settings.

2. The event settings page is displayed as shown below:

3. Following is the information regarding the settings that you can configure for a regular auction:

Section	Description
General Settings	Enables you to manage the general setting such as decimal precision, supplier name visibility, marking auction event as a training event, and NDA settings. Also contains the option to set up a Bonus Malus event. For more information, refer…
Initial Bid Settings	Allows you to configure the initial bid settings such as initial bid duration and controlling the starting price.
Bidding Rules for Suppliers	Allow you to configure rules for supplier bidding such as bidding at lot level, above or below the starting price, and matching bid setting, which allows whether multiple suppliers can place the matching bid or not.
Reserve Price Settings	Let’s you enable reserve price.  Note: Reserve price is the price at which you reserve the right to award an auction.  Also, control whether reserve price should be visible to supplier and alert suppliers once the reserve price is met.
Rank Settings	You can manage whether Make Me Rank 1 setting should be available for suppliers to use along with how the best bid for making supplier rank 1 is to be calculated. Also, you can set up lead bid protection and set the best decrement or increment percentage in decimal format.
Visibility Settings	Enables you to control the visibility of various auction event elements to suppliers
Extension Settings	Enables you setup auction event extension settings such as extension period and trigger along with a maximum number of extensions allowed.

4. Click Save or Done to save the changes made.

2.5 Bonus Malus Setting

To apply bonus malus setting in a Regular auction, select the This is a Bonus Malus Event checkbox within the General Settings section on the Auction Settings page.

To assign bonus or malus factors and values to the suppliers participating in the auction event

1. Navigate to Auction Lot page.

2. From the left pane click the applicable Lot for which you want to configure bonus malus event.

3. From the Lot grid go to More and then select Bonus Malus option.

4. The Bonus Malus page is displayed.

5. Now, for each supplier in this event, you can individually specify the Bonus Malus Factor and Bonus Malus Value based on your specific requirements.

6. Click Save or Done to save your changes.

2.5.1 Bonus Malus in Line Level

In the event settings, when you select This is a Bonus Malus Event checkbox, you will get an option to select whether you want to apply the bonus-malus at the lot-level or line-level.

Based on the bonus and/or malus applied at line-level and bids placed, the effective Actual & Adjusted Bids at lot-level are also calculated. For more info refer to the Bonus Malus Setting

You can also Export bonus malus information for each lot, make the required changes, and Import it back.

2.6 Creating a Dutch Auction

In a Dutch auction, the bidding amount either increases or decreases depending upon the configuration, and the suppliers are allowed to place only one bid, during the event. Creating and managing a Dutch auction is the same as a Regular auction except for:

• Dutch Auction Event Settings

• Lots

For information on the sections, which are same as a Regular auction, refer to the following sections:

• Basic Details

• NDA & Guidelines

• Timeline

• Suppliers

• Team Members

• Comments and Attachments

• Related Content

2.6.1 Dutch Auction Event Settings

Event settings help to define the rules for running an auction event.

1. To access auction event settings, click More on the top-right corner of the auction document, and click Settings.

2. The event Settings page is displayed.

3. Following is the information regarding the settings that you can configure for a Dutch auction:

Section	Description
General Settings	Let’s you manage the general setting such as decimal precision, access of team members, marking auction event as a training event, NDA settings and acknowledgement from supplier for participation.
Lot Setup	Let’s you configure how you want to capture the bids in the lots – In single value or a ranged value in which suppliers can bid, for each step.

2.6.2 Creating and Manging Lots in Dutch Auction

You can create Lot using the following options:

• Add

• Add From Item Master

• Add From Repository

2.6.2.1 Creating a Lot

1. To create a new Lot, go to Lot section and then click Add.

2. The Auction Lot page is displayed.

3. Enter Lot Name and Lot Description.

4. Enter Start Date & Time and End Date & Time for the lot.

5. The Overall Threshold value determines the limit beyond which the price of the lot will not be increasing or decreasing due to increments/decrements in each step.

6. Price Change Interval (minutes) determines the duration of each step for the lot in the Dutch auction live event. For example, if you enter the value as 2, then the duration of each step will be of 2 minutes after which the price of items in lot will increase/decrease with the specified amount.

7. Increment By/Decrement By determines the value by which the lot price will change with each interval. If required, you can set the Decrement or Increment field as a percentage too.

8. Safety Net: This prevents accidental or unintentional spikes in consecutive bids by restricting a bid difference of greater than 80%.

9. Click Lot Settings to add settings to the Lot.

10. Add information about the items that you want to capture in the lot using the grid provided.

11. Click Attachment(s) to add supporting documents.

12. Click Freeze Columns to lock the columns in place.

13. Using Grid Actions, you can add or delete rows.

14. Click Save to save the changes made and stay on the same page.

15. Click Done to save the changes made and navigate back to the auction event.

Following is the screen for a Ranged Value Lot:

16. In Ranged Value mode, you capture the From Range and To Range within with suppliers get to bid in each step of Dutch auction. Rest of the options are same as a Single Value lot.

17. Click Save to save the changes made and stay on the same page.

18. Click Done to save the changes made and navigate back to the auction event.

19. Click More to Export and Import a lot. Click Export lot grid information into an Excel template for offline modifications and then import it back using the Import capability.

2.6.2.2 Add from Item Master

For more information refer to the  Add From Item Master

2.6.2.3 Adding Lot From Repository

For more information refer to the  Adding Lot from Repository

2.7 Bonus Malus in Dutch Auction

To apply bonus malus setting in a Dutch auction, select the This is a Bonus Malus Event checkbox within the General Settings section on the Auction Settings page.

Select the price visibility to Supplier checkbox.

To assign bonus or malus factors and values to the suppliers participating in the auction event

1. Navigate to Auction Lot page.

2. From the left pane click the applicable Lot for which you want to configure bonus malus event.

3. From the Lot grid go to More and then select Bonus Malus option.

4. The Bonus Malus page is displayed.

5. Now, for each supplier in this event, you can individually specify the Bonus Malus Factor and Bonus Malus Value based on your specific requirements.

6. Click Save or Done to save your changes.

2.8 Creating Japanese Auction

In a Japanese auction, the bidding amount either increases or decreases depending upon the configuration, and the suppliers must continue to place a bid during each interval to stay in the competition. Creating and managing a Japanese auction is the same as a Regular auction except for:

• Japanese Auction Event Settings

• Lots

For information on the sections, which are the same as a Regular auction, refer to the following sections:

• Basic Details

• NDA & Guidelines

• Timeline

• Suppliers

• Team Members

• Comments and Attachments

• Related Content

2.8.1 Japanese Auction Event Settings

Event settings help to define the rules for running an auction event.

1. To access auction event settings, click More at the top-right corner of the auction document and then click Settings.

2. The event Settings page is displayed.

3. The following is the information regarding the settings that you can configure for a Japanese auction:

 

Section	Description
General Settings	Let’s you manage the general setting such as decimal precision, access of team members, marking auction event as a training event, NDA settings and acknowledgement from supplier for participation. Also contains the option to set up a Bonus Malus event.
Competitive Bidding	Allow Suppliers to miss a few steps and still get back into the competition

2.8.2 Creating and Managing Lots in Japanese Auction

You can create Lot using the following options:

• Add

• Add From Item Master

• Add From Repository

2.8.2.1 Creating a Lot

You can create a new one or add a lot to an existing event until the auction is live.

1. To create a new Lot, go to the Lots section and then click Add.

2. The Auction Lot page is displayed.

3. Enter Lot Name and Lot Description.

4. Enter Start Date & Time and End Date & Time for the lot.

5. Enter the number of Steps that are to be conducted for the lot.

6. In Steps Duration, enter the duration of each step.

7. Steps Leniency: Specify the number of steps the Supplier can miss but still re-join the competition.

8. Enter the Decrement or Increment value by which the value of items should change in each step. If required, you can set the Decrement or Increment field as a percentage too.

9. Safety Net: This prevents accidental or unintentional spikes in consecutive bids by restricting a bid difference of greater than 80%.

10. Add information about the items that you want to capture in the lot using the grid provided.

11. Click Attachment(s) to add supporting documents.

12. Click Freeze Columns to lock the columns in place.

13. Click Save to save the changes made and stay on the same page.

14. Click Done to save the changes made and navigate back to the auction event.

15. Using Grid Actions, you can add or delete rows.

16. Click More to Export and Import a lot. The Export option allows the export of lot grid information into an Excel template for offline modifications and then importing it back using the Import option.

2.8.2.2 Add from Item Master

For more information refer to the  Add From Item Master

2.8.2.3 Adding Lot From Repository

For more information refer to the  Adding Lot From Repository

2.9 Creating Sealed Auction

A Sealed auction is a type of auction in which the bidders place only one bid. Unlike the other auction types that allow bidders to continually place bids with each passing interval in a sealed auction, the suppliers cannot place interval bids. Bids placed are hidden to you, the buyer till the time the auction event is live.

Creating and managing a Sealed auction is the same as a Regular auction except for:

• Sealed auction Event Settings

• Creating and Managing Lots in Sealed Auction

For information on the sections, which are same as a Regular auction, refer to the following sections:

• Basic Details

• NDA & Guidelines

• Timeline

• Suppliers

• Team Members

• Comments and Attachments

• Related Content

2.9.1 Sealed Auction event Settings

Event settings help to define the rules for running an auction event.

1. To access auction event settings, click More on the top-right corner of the auction document, and click Settings.

2. The event Settings page is displayed.

3. Following is the information regarding the settings that you can configure for a Japanese auction:

Section	Description
General Settings	Enables you to manage the general setting such as decimal precision, supplier name visibility, marking auction event as a training event, and NDA settings. Also contains the option to set up a Bonus Malus event. For more information, refer…
Bidding Rules for Suppliers	Allow you to configure rules for supplier bidding such as bidding at lot level, above or below the starting price, and matching bid setting, which allows whether multiple suppliers can place the matching bid or not.
Reserve Price Settings	Let’s you enable reserve price.  Note: Reserve price is the price at which you reserve the right to award an auction.  Also, control whether reserve price should be visible to supplier and alert suppliers once the reserve price is met.
Rank Settings	You can manage whether Make Me Rank 1 setting should be available for suppliers to use along with how the best bid for making supplier rank 1 is to be calculated. Also, you can set up lead bid protection.

4. Click Save or Done to save the changes made.

2.9.2 Create and Managing Lots in Sealed Auction

You can create Lot using the following options:

• Add

• Add From Item Master

• Add From Repository

2.9.2.1 Creating New Lot

1. To create a new Lot, go to Lot section and then click Add.

2. The Auction Lot page is displayed.

3. Enter Lot Name and Lot Description.

4. Enter Start Date & Time and End Date & Time for the lot.

5. Safety Net: This prevents accidental or unintentional spikes in consecutive bids by restricting a bid difference of greater than 80%.

6. Add information about the items that you want to capture in the lot using the grid provided.

7. Click Attachment(s) to add supporting documents.

8. Click Freeze Columns to lock the columns in place.

9. Click Save to save the changes made and stay on the same page.

10. Click Done to save the changes made and navigate back to auction event.

11. Using grid Actions, you can add or delete rows.

2.9.2.2 Add From Item Master

For more information refer to the Add From Item Master

2.9.2.3 Adding Lot from Repository

For more information refer to the Adding Lot from Repository