Leading manufacturer of hydraulic cylinders, cranes, compactors, loading Systems, commercial trucks, etc. Their products are used worldwide across a range of sectors including transport, construction, mining, materials handling and waste handling & recycling.

Hardware Component Requirements Reverse Auction

Rubber screws and washers (136 line items)

This is a very commodity-like category with many qualified suppliers. Invited 12 competitive India suppliers. 

USD 727,920

There are many line items, hence Buyer decided to group all items into one single lot. The bidder with the lowest bid price for the lot would be awarded the business. In order to increase competition, Buyer configured the RFX such that suppliers were able to see their own ranks as well as the current lowest bid price.

The competition is fierce, lasted 126 minutes with  27 automatic time extensions.  There were 241 bids submitted.