Reverse auctions could be a lifesaver to procure quality items at a market price. A partnership between a State and eBridge paved the way to 18% in savings in a 1-year transportation panel sign installation and maintenance contract with 4 optional 1-year renewals. The competition was intense due to seven vendors placing 276 bids. Finally, the process revealed market price by having a 0.07% spread between 1st and 2nd place.
A 24% savings on a Road Salt contract was attained due to a coordinated process between the State and eBridge. There were 908 total bids placed from 4 approved vendors. eBridge Full-Service Reverse Auctions supported the process in every step of the way. At the end of the auction, there was only a 0.02% spread between 1st and 2nd place, which undoubtedly shows market price.
A State with a $185,445 budget for tree purchasing and planting, obtained $75,397 (41%) in savings. eBridge certainly finds hard dollar savings for our customers. This auction had 426 first place turnovers with 919 extensions. There were 1,068 total bids placed. eBridge not only mirrored the State's process but also fostered competition. As a result, in this one time purchase, market price was accomplished with a 0.30% spread between 1st and 2nd place.
eBridge's strategic sourcing and efficient process has done it again. After an intense competition among 7 vendors, 202 total bids were placed. There were 30 first place turnovers with 62 extensions. The Department of Criminal Justice not only found transparency and competition, but also 31% in savings. eBridge understands that in order to achieve success, our partner must also succeed. Market pricing was found, evinced in our 0.09% spread between 1st and 2nd place. The Department of Criminal Justice trusted us by partnering with us. This is a 1 year contract with 4 optional 1 year renewals.
A State partner had a 5 year budget of $7,680,000 for an Environmental and Janitorial Services contract. A collaborative effort with eBridge and the state agency allowed them to achieve $890,920 in savings (12%). 197 lowering total bids were placed by 3 approved suppliers during 158 time extensions. The State was pleased to find market value with a final spread of 0.16% between the 1st-2nd place supplier.
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.
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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.