e-Auctions with cosmoONE’s platform

English – The absolute best price wins.
A price is given for the total quantity and the lowest price wins. There are no draws.

Dynamic – Selection of winner or winners among the best bids of each participant, depending on their ranking
The participants try to occupy one of the first places that gives “partial win”.

MVB – Combinarion of  values (prices) and common variables based on a mathematical equation.
The best overall result of the mathematical formula wins. Participants give prices for each item on the supply list and the system automatically adds up the final total.

Weighted – Mathematical formula with different coefficients per participant.
The best result Σ of the mathematical formula Σi=ai+bi*Ki/Ti wins. An online calculation of the best Cost / Ranking result is made taking into account fixed costs and scores (ranking).

Comparative –In each offer, its rating is compared online in terms of the highest score among all offers, and its price in terms of the current lowest price. The lowest financial offer affects the evaluation of all participants, while the mathematical formula Σi=a*Ti/Tmax+b*Kmin/Ki also uses the weighting factors for the technical and financial comparison.

Dutch – For purchases and sales of a large number of similar products. A quantity is submitted at the current price which is automatically changed by the system at a specific time step. The quantity is awarded directly to the participant who submitted it and is no longer negotiable.

Yankee – For purchases and sales of a large number of similar products with restrictions on the price or quantity that one can commit. In each price and quantity submission, a classification and temporary commitment is made, and in the end the system definitively distributes the available quantity according to 1) the best price, 2) the best quantity, and 3) the earliest bidding time.

Net Prestent Value – Reduction of total costs to present value.
The participants have the right to adjust the financial prices throughout the supply schedule, so that the best present value is obtained by reducing prices according to a fixed rate for all.

Open – Submission of bids without any rule.
The best price among the last accepted offers of each participant wins. The participants take care of maintaining a competitive price based on the current conditions.

Sealed – Closed Tender with the possibility of submittining a single offer.
It is a simulation of a closed folder process that can unfold in rounds.

1. Why not negotiate with my Suppliers and use an e-Auction instead?

Because personal negotiation is not as effective as the trading between your own Suppliers, who may have other goals that are completely unknown or indifferent to you, such as market share or even returns from the manufacturer by achieving a sales goal (rebate). Also, the personal negotiation needs preparation, time and usually the presence of others, while the electronic one is done without your intervention and you can, if you want, watch it via the Internet.

2. If I don’t have many Suppliers but just two, can I organize an e-Auction?

Of course, because e-Auction creates conditions of competition, and the possibility of submitting multiple bids creates many “virtual suppliers”, which is completely impossible with the traditional method of bidding in a sealed envelope.

3. Can we conduct e-Auctions when the criterion is not only the price but also the quality or the technical characteristics?

Certainly, it is enough to have the ranking of the quality evaluation of each offer and the way-type of correlation of the rankng with the price. The comparison is made online in e-Auction system.

4. What happens in cases that the Suppliers deliver the goods to our warehouses and other to their premises or elsewhere?

And this case is satisfied through a specific type of auction that “burdens” with the respective fixed shipping costs the successive offers of the Suppliers through the e-Auction system.

5. How can I compare the financial offers when my Suppliers suggest different payment schedules than the ones I consider?

In these cases, we use the e-Auction type based on the best Net Present Value. Thus, you can compare not only the purchase cost with the inclusion of different payment schedules, but also the total cost of ownership, taking into account for the coming years, the costs of maintenance and support of your equipment.

6. If I request a set of items/goods, can I have an idea of the price given by each Supplier to me through the e-Auction?
   

Of course, by using the Multi Variable Bidding Auction as the most appropriate type, where the unit price is submitted for each item, the system calculates the final total online by multiplying the unit prices by the corresponding quantities and summing the individual products.

7. My Suppliers (say that) don’t have Internet special knowledge in using it. What can I do in that case?

Today, all your Suppliers, companies or entrepreneurs submit their tax declaration electronically, so either they or their accountant has access to the Internet. Special knowledge to give your price on a computer screen, is not required. In addition, the e-Auction service provider will educate the Suppliers, will answer any questions and solve any problems in the educational auction that precedes the regular one.

8. And what if a Supplier does not agree to participate in the e-Auction?

He has to agree, because this is your process and if he does not follow it, he has no hope of bidding otherwise. But the best reason for him to take part in the auction, is that he can give again, if he wants, a better offer, in case the previous one he submitted is not competitive enough having the risk of losing. This chance is not offered in the case of closed envelopes auction where he practically relies on luck and has no ability of biding with his competitors. Ultimately, he can only offer one bid through the system and log off.

9. That is, does each Supplier view the offers of his competirors?

Not necessarily. He sees what you will allow him to see, and it is common for each Vendor to see his ranking (1st, 2nd, etc.), without knowing the best price, nor who has submitted it. Thus, on the one hand, price confidentiality is maintained, and on the other hand, the process becomes competitive.

10. And I as an organizer, what do I see?

You can see everything, i.e., company name, prices and submission time for all Suppliers. In some cases, if required by your company’s procurement regulations, the Tender Committee does not see company names during the e-Auction, but only prices, so that the anonymity of the participants is completely preserved.

11. How long does it take to prepare an e-Auction?

As a rule, one week from the moment you already have the list of the candidates participating in the auction, i.e., those Suppliers for whom the last selection criterion is the prices.This time is sufficient for the registration, training and participation in the trial auction of all invited Suppliers.

12. If I am a public sector organization can I conduct e-Auctions?

Certainly, but you should know that there are specific rules of conduct that are defined by the country Legislative Framework Law (the Law 4412/16 in Greece).

Auctions for GOODS

Office supplies, food, IT equipment, consumables, furniture, medical equipment, telecommunications infrastructure, raw materials, energy and fuel, real estate, cars, etc.

Auctions for SERVICES

Staff transport, courier services, security services, dismantling, storage, advertising, insurance contracts, etc.

Auctions for PROJECTS

Construction and reconstruction of buildings, maintenance and renovation, road construction contracts, integrated IT and infrastructure projects, etc.