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Valuable tools at economic prices

Depending on the market, you can quickly and effectively get competitive prices using auctions. Of course, the quality of the requested materials and services needs to be comparable. Then you can save further costs with online auctions. Just like the Sourcing Cockpit for requests and bids, the auction monitor helps you to keep track of auctions: With the monitor you always know the current status of the bids in an auction. Like traffic lights, the colors show the approaching end of an auction.

myFutura gives your purchasing department the choice: With a few clicks, you can transfer your tender / request to start an auction. Or you start negociating immediately. You can choose between different kinds of purchasing and sales auctions. No matter which auction you choose - different parameters in myFutura will help you to control the auction and to put your auction strategy perfectly into practice: you can schedule the auction with time slots or determine the extent of allowed discounts - so that in the end the result always fits.

Advantages:

  • Start an auction with or without tender / request
  • Different kinds of auctions as needed
  • Competitive prices


Features at a glance

Auctions are a flexible pricing mechanism and a valuable tool to achieve competitive prices. Their use depends on the market situation. myFutura therefore has different auction instruments so that they can always react flexibly to different economic and market situations.

English Auction (reverse)
The English auction is designed for falling prices. When the initial price is known, bidders can place a bid which must be lower than the currently called price by a predefined percentage.

Dutch auction (reverse)
The Dutch auction is about rising prices. Here the price automatically rises at regular intervals with a certain margin, predefined by the buyer. The bidder who confirms a price first, wins the auction.

English Auction (inverse)
The English auction, also called inverse auction, is the classic sales auction. The price at the end represents the highest bid of a potential buyer. The seller sets a minimum amount for the first bid. It also determines the amount by which the current bid must at least be outbid. The contract goes to the bidder with the highest bid.

Yankee Auction (inverse)
The Yankee Auction is for selling subsets. This Auction type is suitable for special and bulk goods. You define the quantity scales and the corresponding target selling prices. An algorithm in myFutura automatically determines the best result for your overall sales performance, i.e. the sales volume is divided the best way.

Auction monitor