Soft Auction

Our full service Flex RFP soft auction is a somewhat more traditional bid format: the buyer may chose to provide the vendors with some information regarding line item range detail; Meaning, that during the first round of bids you can provide a % range that they would need to meet in order to remain competitive.

As an example, you may have two or more vendors that you feel would respond better if given the opportunity to consult with their internal senior level decision makers to gain approval to proceed with meeting the % range of the most current and competitive offers.

This process usually consists of 2 or more rounds.

Again, price isn’t the only consideration in a soft auction. Buyers should compare price, experience, quality and reputation before making a final award.

Through Buy Rite Technologies proprietary online Flex RFP soft auction application, you can reduce costs, streamline supplier interactions and compress negotiation cycles when purchasing capital equipment, materials and services from vendors around the world. Our advanced procurement technology delivered an average cost savings of 18% and reduced purchasing cycle times by 40%. Our technology improves the resource-intensive procurement process by enabling you to electronically track and record all communication with suppliers and archive bid documents for future reference and use.

Benefits:

• Streamlined negotiation processes

• Greater negotiation power

• Reduced procurement costs

• Increased control & automation of the procurement process

• More efficient & effective sourcing processes