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Administrator Guide
Last Updated: 2023-06-23
Configure Multi-Lot Auctions

Configure Multi-Lot Auctions

Create sourcing projects in Strategic Sourcing.
You can use multi-lot auctions to create live bidding events where suppliers compete for your business by decreasing bids on their assigned lots.
  1. Access the
    Sourcing
     tab on a project.
  2. Click
    Create New Auction
     and access the
    Build Auction
     page.
  3. Add auction details for bidders in the
    Add Your Auction Details
     section.
  4. Define the auction structure and rules.
  5. Set the
    Supplier View Options
     for the auction.
  6. Invite suppliers to the auction.
  7. Click
    Edit Items
     to open the event worksheet for each lot you've added. Invite suppliers only to the lots that are relevant to them.
  8. (Optional) Invite additional stakeholders to the auction.
  9. Review and publish the auction.
Suppliers receive an invitation to the auction.