July 18, 2012 • 2:40pm in eBridge, Event Summaries, Healthcare, Higher Education, Hospital, Services, University
A large private university and affiliated hospital recently ran a reverse auction bid for their records management service. The bid was a five year contract and involved three pre-screened and approved vendors. After an hour and thirteen minutes of bidding, that showed 1st place turn over 27 times and a less than 1% spread between first and second place, the institutions had pricing that was 32% below their current rate. Over five years, that totals $914,880 in savings by utilizing reverse auction technology.
The Director of Strategic Sourcing for the hospital said, “eBridge is truly helping us to change the way we source for products and services. Whereas a sealed bid process can result in cost reductions, eBridge is able to help us to create true competitive marketplace where qualified suppliers can submit bids real-time. We continue to see tremendous value in this approach to sourcing.”
April 27, 2012 • 2:59pm in Change Management, eBridge, Event Summaries, Furniture, Fixtures and Equipment, Higher Education, University
After learning of the great success several other local universities were having with reverse auction bidding, this CA University decided it was their turn! They partnered with eBridge to run a reverse auction for their purchase of dorm room furniture. For the live competitive auction, suppliers were required to bid a lump sum total for the entire scope of service (included: purchase of furniture, delivery and handling, installation as well as removal and relocation of existing furniture). Immediately following the live auction, suppliers had 3 hours to electronically submit their unit pricing, giving a complete breakdown of the final lump sum bid placed during the live auction. During the 25 minute auction, 4 suppliers placed 41 bids resulting in 5 first-place turnovers. The spread between 1st and 2nd place was 0.32% with an estimated savings of $19,800 or 12.5%.
April 18, 2012 • 3:05pm in eBridge, Event Summaries, Higher Education
Although eBridge’s preference is to source 5 suppliers per bid, this bid proves that it only takes 2 aggressive suppliers competing to achieve true-market value to get great results. eBridge sourced and invited 27 suppliers to participate in this event but because several of them could only supply part of the required services, only 2 were approved for participation. However, during the 23 minute reverse auction, these 2 suppliers placed 142 bids resulting in 38 first-place turnovers. The spread between 1st and 2nd place was 0.57%. If awarded to the lowest bidder, the University will save at least $83,809 or 35% on the 5-year service Agreement.
April 18, 2012 • 2:58pm in eBridge, Event Summaries, Furniture, Fixtures and Equipment, Higher Education
The University Facilities Department identified a specific lighting fixture for use in its garage structure. The bid required a specific luminaire from a specific manufacturer, which can be challenging when sourcing for reverse auction. However, since there are multiple suppliers of this particular manufacturer’s brand, eBridge was able to source and invite 55 suppliers to participate. Of the 6 suppliers that did respond to the bid, 5 participated in the live event. During the 35 minute event, 60 bids were placed resulting in 24 first-place turnovers. The final spread between 1st and 2nd place was 0.13% ($1.00 price difference per unit). Based on an average estimated retail price for this particular luminaire, this University will save $40,000 on their purchase.
March 9, 2012 • 12:17pm in eBridge, Higher Education, Office Supplies, University
eBridge hosted two separate reverse auctions for the University’s three (3) year contracts for Copy Paper and Ink & Toner purchases. Eight (8) suppliers competed for 67 minutes on the Ink & Toner, placing 71 bids while Seven (7) suppliers competed for the copy paper placing 53 bids during the 43 minute auction. The high-low spread for both auctions came in under 2% —- again reflecting true market value. Together, both auctions will save the University $1.2 million or 16% over the three (3) year contract periods.
March 9, 2012 • 12:12pm in Higher Education, Janitorial Supplies, University
By inviting 4 other campus locations to participate in their 2nd reverse auction with eBridge, this University more than doubled their bid volume making it a much more attractive bid for participating suppliers. Several of the campus locations felt they were already getting the best possible price but still wanted to participate. Six suppliers were excited to compete for the University’s business placing 309 bids with 39 first place turnovers during the 74 minute event. The high-low spread between 1st and 2nd place was 0.83% proving true market value. The auction produced a total savings of $65,500 or 15% under budget, again proving this technology and process works. They are reviewing their largest purchases and identifying which will be the next good fit.
February 14, 2012 • 1:14pm in eBridge, Higher Education, Technology
An Arizona University partnered with eBridge, on their 2nd event, for the purchase of 91 Panasonic Projectors. The purchase price included a 4-year factory authorized warranty. Of the 8 participating suppliers, one was not approved through their corporate office to participate in a reverse auction. eBridge offered the option to enter their “one-and-done” bid, which is similar to the traditional paper process of submitting one bid. The supplier did not miss the opportunity to gain the Universities business and participated by entering their final bid. During the 53 minute competitive event, 106 bids were placed with 24 first place turnovers and a spread of 0.13% between 1st and 2nd place, showing true market value.
December 14, 2011 • 9:27am in eBridge, Higher Education
A California State University, partnered with eBridge to procure their BetaLED Parking and Area Lighting. The event lasted for 41 minutes, with 8 participating suppliers. There were 223 bids placed with 8 first place turnovers, allowing for a competitive bid. The spread between 1st and 2nd place was 3.72%. The university saved 32% on their first budget value, with their first reverse auction with eBridge.
September 7, 2011 • 10:22am in eBridge, Higher Education, Janitorial Supplies, Supplies
In their first eAuction with eBridge, a California State University purchased restroom paper towels, toilet tissue, and dispensers. The 2 suppliers competing for the 2 year contract had given presentations to the university prior to the auction. There were a total of 17 bids, and 1st place had 2 turnovers.
September 7, 2011 • 10:13am in eBridge, Higher Education, Office Supplies
A California University needed 93 copiers, and wanted the option to lease or purchase. There were eight suppliers approved to participate in the bid, which lasted for an hour and 13 minutes. The bidding was competitive, with 199 total bids and 14 first place turnovers. The spread between 1st and 2nd place was a only 0.65%, demonstrating true market value. eBridge’s process helped the university save 33% versus their budget, on their first auction.