It has been widely accepted that Web-based reverse auctions have become extremely popular for purchasing large amount of goods or services at the corporate level. E-procurement is most often used to describe those business to business revere auctions. Adding an edge to this process, Tap2Trade Mobile App brings in the flexibility to participate in the bidding process. Now Buyer can invite qualified vendors to participate in reverse bidding and Vendors can compete in the same by submitting their bids thru mobile app or web and can check/ track their real-time position.
Buyer can use this type of template for competitive bidding where he can allow/ disallow a vendor to see the additional cost term and vendor can only see transformed bid price on submission of his bid. The Buyer has the option to add or subtract additional cost from one or more vendors with a choice if that cost term will be visible to vendors or not. Though these factors may be hidden from vendors but it will affect their bid prices.
In this type of bidding vendor has to give price on all the cost components asked by the buyer and competition will be on the total cost. Buyer uses this type of bidding to collect the break-down bid of the product or service he has called for bidding real-time. Buyer can create different Price collection terms and can define if the price is to be filled by the vendor or will be fixed by the buyer itself. Here, Bidding is on the Total Price which is calculated by formula created by the Buyer.
Tap2Trade Forward auction helps the seller in asking for competitive bidding from prospect qualified buyers can who bids in upward direction to win the bidding. Seller can choose different type of templates in this type of auction where he can define what all information the buyer will see basis his price submission.
This type of bidding template is used when there are very few vendors or low competition. Buyer can use this template for single order quantity or Partial Dutch where vendor will offer the quantity for the prevailing price.