Category: Office supplies
For their 3rd event a large resort/hotel chain used reverse auction for the purchase of Kitchen Equipment. There were four participating suppliers competing extensively for the opportunity to win this event. There were 123 bids placed with 8 first place turnovers. At the close of the bid the spread between 1st and 2nd place was 0.10%, reflecting true market value. The hotel chain saved 15.6% off their budget, and was pleased with the results.
A state health agency on the East Coast ran a very successful ID card printing bid using eBridge’s reverse auction technology. The agency had used a previous quote to establish a budget of $147,000 for the five year contract. Seven bidders were approved by the agency to compete for the business. At the end of the 25 minute online bidding event, a local vendor won the bid at $107,902. The second place bidder was only $9 behind and third place was less than $1,000 off the lead. This once again proves that an eBridge reverse auction delivers not just a great low price, but competitive alternatives.
A State Education Lottery has successfully been using a reverse auction strategy to purchase its promotional items like pens, cups, and t-shirts with their logo. The first two auctions came in below budget, but the third bid delivered even more amazing results. Seven bidders were approved to compete after submitting samples to the agency. The catalog price for the items was over $150,000 and the State budgeted $129,000 for the purchase. After an hour of suppliers underbidding each other, the low bid came in at $50,000! Second place was $51,900 and all seven of the bidders were at least 25% below the budgeted amount.
A Southern State needed to procure their Lottery Promotional Products, and used eBridge’s reverse auction process. The State pre-qualified the suppliers by having them submit samples. There were six approved participating suppliers. At the end of the event, the taxpayers saved money because the final bid came in 30% below the budgeted amount.
A southern state ran a printing contract for the third consecutive year as a reverse auction bid through eBridge. There were four pre-approved bidders and because two of the bidders were willing to compete aggressively for the business, it was a very exciting auction. The low bid was reduced 37 times over the course of an hour and the price dropped about 25% from the opening bid. In the end, the taxpayers will be paying 3% less than they paid the previous year and 36% less than they paid for the same contract when it last ran as a traditional bid in 2008.
A private Indiana company employed eBridge’s reverse auction process to acquire 45 new Scienscope Cameras and Dell Monitors. There were 6 participating suppliers that placed: 138 bids, with 29 time extensions, and 30 first place turnovers. The competitive bidding ended with 1 penny separating the 1st and 2nd place suppliers. The Indiana company saved 22% off their budgeted value with their second bid with eBridge.
eBridge teamed with a Georgia county to purchase copy paper. There were 12 highly competitive suppliers, with 28 first place turnovers. The 30 minute bid had an additional 39 time extensions, as the suppliers continued to lower their bids. The spread between 1st and 2nd place was 0.11%, showing an amazing true market value. The Georgia country had a savings of 6.67% on their budgeted value. They were pleased with their savings, as the fuel price increases this year has added cost to their paper deliveries.
A California University needed 93 copiers, and wanted the option to lease or purchase. There were eight suppliers approved to participate in the bid, which lasted for an hour and 13 minutes. The bidding was competitive, with 199 total bids and 14 first place turnovers. The spread between 1st and 2nd place was a only 0.65%, demonstrating true market value. eBridge’s process helped the university save 33% versus their budget, on their first auction.
A private New Albany, IN company recently utilized the reverse auction process to acquire 177 workstations for assembly. Through eBridge’s assistance they were able to develop their specifications to better qualify their suppliers. Through this qualification process, 3 suppliers participated, placing 116 bids. The event lasted a little over an hour, with 1st place exchanging hands 17 times. The company is pleased with the results, and saved 10.43% on their budgeted price through their first auction with eBridge.
A southern state recently ran paper and ink toner annual purchase contracts through eBridge. All government entities in the state will be able to purchase off these state contracts and the value is expected to be in excess of $7 million. The bids were extremely competitive, showing the significance of reverse auctions in achieving true market value for the buyer. In the end, the low bidders were separated by less than 1% on every key lot. Specifically, in one lot (valued at $1 million), first and second place were separated by only $23 after lowering their bids multiple times. There has been a significant increase in the price of paper over the last year, due to rising fuel costs. Despite that increase, the state will be paying less for 8 ½ x 11 copy paper under the new contract than it did under the old contract, which was run using traditional methods. Initial estimates are that the state saved at least $500,000 by utilizing the eBridge reverse auction.