How to Setup Negotiation Type, Auction, With a Minimum Price Change Requirement to Create a Bid
Last updated on AUGUST 30, 2017
Applies to:Oracle Fusion Sourcing Cloud Service - Version 18.104.22.168.0 and later
Oracle Fusion Sourcing - Version 22.214.171.124.0 and later
Information in this document applies to any platform.
The Negotiation type, Auction, does not have a setting for a minimum price change requirement. If an auction is extended by a certain time frame after the last bid, without a minimum price step, an auction can last indefinitely.
Without Price-step setting a Supplier can make an offer for a small amount like 0.01, or possibly lower depending on currency settings.
1. Create Negotiation type 'Auction'.
2. Add details and invite Suppliers. Launch Auction with setting 'Automatic extend with 15 minutes if the last bid is within 10 minutes of Close'.
3. If Supplier enters price in the last 5 minutes, Auction extends. Again, if there's a price entry by a Supplier in the last 5 minutes, using a small amount like 0.01, this can continue repeatedly.
What option can be used to set a minimum price change requirement in order to create a bid?
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