eBridge Procurement hosted a reverse auction for Oils, Fluids, & Lubricants in the state of Tennessee. 3 vendors participated in the reverse auction, which allowed the city to receive over 130+ bids. The increased vendor activity allowed the city to see a 0.14% difference in low bid between the first and second place vendors. 

Statistics from the Oils, Fluids, & Lubricants Reverse Auction: 

• 3 Vendors 
• 137 Lowering Bids 
• 14 First Place Turnovers 

This reverse auction lasted for 1 hour and 10 minutes, allowing the city to receive competitive pricing on their line items. The statistics from the bidding event show reverse auctions are the best way for public entities to find current market pricing for their commodity and services purchasing process. 

eBridge continues to expand and be the leading provider for reverse auction services for large cities in the United States. 

If you are interested in learning more about our public procurement reverse auction tool, you can reach out to our President by clicking this link here.