A Midwestern city partnered with eBridge to purchase water treatment chemicals a total of 12 suppliers participated in the event, placing a total of 231 consecutive bids.
In a reverse aucution, suppliers have the opportunity to place subsequent lowering bids for a product or service. In this case, several different water treatment chemicals. First place changed hands 29 times, with the clock extending 94 times.
Because the price of chemicals is volatile, it’s important to note that first and second place suppliers were less than .2% apart, indicating true market value had been achieved for the purchase.
The city was very pleased with the bid and will run several more items through the process in the future.