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.

WR/High Strength STEEL for 2015 H1 Reverse Auction

Half Year Supply of WR/High Strength Steel

 7 qualified India suppliers

 November 2014

This was a challenging bidding item. Steel is a raw material that ties closely with the market index. However, in this case, there were distributors involves with specialize material. The spend was substantial and buyer decided to award to 2 suppliers. Winning supplier got awarded 70% of the spend with secondary supplier awarded the rest. The buyer decided to show Ranks and Best Bid information to suppliers during the auction.

The auction lasted 42 minutes, 84 bids submitted with 6 automatic close time extension. We invited 7 suppliers with 2 new ones. Towards the end, we saw 2 new suppliers aggressively competing with one incumbent.