When creating an auction event in CalUsource, there are several settings you need to customize to bring the best possible result for your auction event. In addition, CalUsource auction settings are broken up into seven sections and this guide will cover each of them along with their associated settings.
As you build your auction event, to access settings, simply click on the Settings button on the bottom left corner of your draft auction.
General Settings
These settings offers general configuration options for an auction event based on your auction strategy already developed.
Definition of Settings:
- Decimal Precision: Allows selection of how many digits to display to the right of a decimal point.
- Enable Access to Team Members Only (Confidential Event): Allows only team members invited to an auction event to have visibility to it.
- Hide Supplier Name During Live Auction: Displays supplier names with an alias until an auction event closes.
- This Is a Training Event: Allows for an auction to be setup for internal training use only and does not publicize it for participation.
- This Is a Bonus Malus Event: Used when a buyer wants to incorporate any associated costs or rebates, such as total cost of ownership or discounts/rebates into the bid placed by the supplier. For a Regular Reverse Auction, you can apply “Bonus” if you want to favor a supplier and “Malus” if you want to penalize a supplier.
- Enable NDA Settings: Allows you to associate a non-disclosure agreement with an auction event and control whether the NDA requires acceptance/acknowledgment before a supplier can participate.
Initial Bid Settings
These settings allow for configuration of how initial bids received are managed prior to an auction.
Definition of Settings:
- Enable Initial Bid Duration: Allows you to setup a pre-bid where you can establish a timeline to gather bid and pricing information from your suppliers in advance of a live auction event.
- Auction Start Price Must Be:
- Set Initial Bid Quotation as Supplier Specific First Bid: This setting allows supplier to set an initial bid before the actual auction has started.
- Manually Set Start Price: Allows a buyer to manually select a start price unlike the option above, which allows supplier to set an initial bid.
Bidding Rules for Suppliers
These rule configurations control how suppliers can interact with an auction during the bidding process.
Definition of Settings:
- Enable Bidding at Lot Level: Allows suppliers to place bids at the lot level.
- Enable Bidding Above Item Start Price: Allows suppliers to bid above an item's start price.
- Enable Matching Bid Settings for Initial Bid Phase: Enables the ability to allow suppliers to place matching bids.
- Enable Bidding Above Lot Start Price: Allows suppliers to bid above the set starting lot price.
- Enable Bidding Above Previous Item Price: When enabled, whenever a bid is placed by a supplier on an item, the next bid placed must be above the prior bid.
- Matching Bid Settings:
- All: Allows suppliers to place matching bids.
- All Except Best Bid: Allows suppliers to place matching bids, but also enables the ability for a supplier to place a higher or lower bid (depending on the auction method) to be competitive among those who placed matching bids.
- Not Allowed: Does not allow suppliers to place matching bids.
Reserve Price Settings
These settings allow for reserve pricing to be configured for an auction.
Definition of Settings:
- Enable Reserve Price: Opens the ability to set a reserve price for an auction.
- Show Reserve Price to Supplier:
- Display Reserve Price Value to All Suppliers: Enables visibility of a reserve price to all suppliers.
- Display Reserve Price to Supplier Who meets the Reserve Price: Allows a supplier to view the reserve price if their bid meets the reserve price.
- Alert Suppliers Once Reserve Price is Met by At Least One Supplier: Sends an alert to all suppliers once any supplier meets the reserve price.
Rank Settings
These settings determine how and when the auction will display the rank of suppliers. Rank refers to the order of which suppliers closest meet the criteria of the auction (Ex: a supplier that has a leading bid within a Forward auction would have a #1 rank position).
Definition of Settings:
- Make Me Rank 1: When enabled, this allows the system to calculate the best bid price on behalf of a supplier, so that they can then be given the highest rank position within an auction. A "Rank me 1st" button will display for a supplier to leverage this functionality.
- Enable When Supplier Meets Reserve Price: Enables Make me Rank 1 only when a supplier meets the target reserve price.
- Best Bid Decremented/Incremented by (%): When enabled, a supplier must place a higher or lower bid (depending on the auction method) on the current bed bid based on a set percentage value.
- Enable Lead Bid Protection: When enabled, a range will be calculated by the system based on the lead bid protection percentage inputted, which will protect the highest bidders placement in the auction within that given range. If a bid is placed beyond the range, the higher bidder will hold the leading bid.
Visibility Settings
These settings control the level of auction visibility provided to suppliers.
Definition of Settings:
- Set Visibility Type:
- Full Visibility: Enables suppliers to have full visibility to see both Rank and Best Bid value.
- Rank Order: Enables suppliers to see only Rank, but not a Best Bid value.
- Lead Bid: Enables suppliers to only see the Best Bid value.
- Share Feedback For: Feedback would be shared basis on the three parameters below:
- Lot and Item
- Items Only
- Lot Only
- Enable This When the Supplier Meets Reserve Price: Allows suppliers to view any visibility and feedback settings after the reserve price is met.
- Display Lot Level Best Bid: Displays the best bid at the lot level.
- Display Item Level Best Bid: Displays the best bid at the item level.
- Display Lot Level Rank: Displays the rank of a supplier at the lot level.
- Display Item Level Rank: Displays the rank of a supplier at the item level.
- Show Graph and Bid Details to Supplier(s): Displays bid details in a graph format to suppliers.
- Hide Volume From Supplier:
Extension Settings
These settings allow for control over how and when the auction will extend during a bidding event. This is particular helpful when when the same bids received or bids are being placed when auction event is close to end.
Definition of Settings:
- Enable Extensions: Enables the ability to leverage extensions for an auction.
- Extension Trigger Period (Minutes): When the auction extend i.e in the last minute if any bid is placed the auction would be extended for the selected duration.
- Extended Auction When: Extends the auction if suppliers place any bid or the best bid (depending on selection from the dropdown menu).
- Extension Period (Minutes): This is duration in minutes for which the auction will be extended.
- Maximum Number of Extensions Allowed: Defines the number of extensions allowed for a particular event.
- Extended Staggered Lots: Extends all the lots in sequence when one of the lots encounters an extension.
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