10. What is smartBid? Why use smartBid?










Why smartBid ???

 As Buyer, you may not always want to run reverse auction for purchases of small amount because the time and effort spent is not justified. Now, with Quick SmartBid, you can easily and quickly set up the event and let the suppliers compete for your business. 


As Supplier you would be required to stay online so that you can submit bids to compete for better ranking which keeps changing because of other suppliers’ bidding. This process can be very time consuming and exhausting. By using Quick SmartBid, the system will bid on your behalf until your Best Offer is reached.


smartBid Auction Example









 

       Supplier Bidding Tips  

  • You need to submit a starting bid first before you can enter your Best Offer.
  • The Current lowest bid price and  your own rank is always shown on the screen.
  • The Best Offer is hidden. Only the bidder can see their own Best Offer. No other bidders or the buyers will know your Best Offer.
  • The supplier who has the lowest "My Best Offer" will always be Rank 1 in the auction. The final lowest bid price can be higher than or equal to the My Best Offer.
  • Best Offers form 2 bidders cannot be the same, in order to avoid bidders having same lowest prices.
  • You may revise your Best Offer up or down as long as it is lower than your current bid price.


     




























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