A Reverse Auction allows a buyer to solicit multiple bids from multiple suppliers.
Cooperative Purchasing allows for combined purchase power and strategic sourcing of common requirements among multiple buyers into a single solicitation.
By utilizing Reverse Auctions to accomplish Cooperative Purchasing, eBridge proposes that buyers and supplier can realize the contractual and cost benefits of both.
Download our White Paper to learn more.
An Ohio county partnered again with eBridge to run reverse auctions for their annual road salt purchases. eBridge has continued to find market value for this Ohio county year-after-year. This year, 5 suppliers met the Buyer’s requirements and were approved to participate in the bid, 2 were sourced by eBridge. During the 23 minute auction, the 5 competing suppliers placed 175 lowering bids resulting in first place changing hands 11 times. If awarded to the low bidder, the buyer will save $9.45 per ton over last year’s price.
eBridge Business Solutions, LLC, a full-service reverse auction provider for the public and private sectors, announced it has been awarded the North Carolina Statewide Term Contract for Reverse Auction Services (961D).
State Procurement Officer, Odessa McGlown, said “North Carolina is committed to the procurement of quality goods and services at the most competitive prices. Using eBridge’s reverse auction tool and their supportive services model is the right choice for North Carolina as we continuously improve our procurement framework. I am excited to offer this fully-transparent, cost-saving pricing option to our procurement community and vendors.”
Read full release here
State of North Carolina Contract Announcement here
eBridge has partnered with this state 11 times to run their Used Railroad Rails bids with phenomenal results, saving 21% on average! In their most recent bid, three vendors furiously competed to save the state $98,000 in 15 minutes with a spread between 1st and 2nd place vendors of 0.34% and a total of 27% savings on their purchase.
Recently a Water authority in Pennsylvania ran their 8th water chemicals bid with eBridge. They have been running bids since 2013, but competition is still fierce as ever as 7 suppliers placed a total of 90 bids with 57 first place turnovers in under 40 minutes. The lowest spread between 1st and 2nd place was 0.11% showing true market value and our client was able to save over $88,000 on this year’s chemical purchase.
A private sector client from Tennessee collaborated with eBridge to run a reverse auction for kitchen equipment and associated services. Two vendors came to the auction and placed 63 total bids with 14 first place turnovers in under an hour. The lowest spread between 1st and 2nd place was 0.91%. With a savings of $1.5 million, our client saved 40% of their projected $3.6 million budget.
When the reverse auction for locks opened, a rapid bidding war between 3 vendors ensued. It resulted in 17 first place turnovers in just 20 minutes and a spread between 1st and 2nd place of only 0.13%! With a savings of $1.7 million, eBridge was able to assist this state’s Department of Corrections in saving 69% on their budget.
eBridge coordinated with a state’s finance cabinet to run a reverse auction for office supplies. Three vendors placed 112 bids with 12 first place turnovers and 31 extensions resulting in a phenomenal 31% savings! With a spread between 1st and 2nd place of 0.41%, the total this state saved on their office supplies came to over $3.2 million on a five-year contract.
This state’s Transportation Department and eBridge, partnered together to procure used railroad rails at a great price. The 3 suppliers, who participated in the auction, placed 47 bids with 29 first place turnovers in 21 minutes. Though the auction only lasted a few minutes, it saved the state $79,490 on the purchase. In the end, the spread was only 0.12% between first and second place bidders, saving the state 29%!
eBridge collaborated with this state’s Department of Corrections for their air filters purchase. The approved 3 vendors placed 8 bids with 5 first place turnovers. Competition was fierce throughout this lighting fast 19-minute bid, which resulted in a spread between first and second place of 1.07%, and saved the state 27% on this 5-year contract.