South Carolina Materials Management Office Keeps the Lights On with eBridge

eBridge partnered with the State of South Carolina to purchase light bulbs, lamps, and ballasts for the Materials Management Office. eBridge helped them to save over 4% on the total purchase which equated to over $100,000 in savings. The auction lasted for 61 minutes including 56 lead turnovers and 67 bids placed. After the 3 participating suppliers finished bidding, the spread between first and second was only 0.0051% showing that true market value was achieved.

eBridge Delivers Big Savings for Hawaiian School District

A school district in Hawaii was looking to procure new furniture for its classrooms and library. The district partnered with eBridge to find the right supplier at a great price. eBridge helped the schools save a total 36% on furniture using its reverse auction process. The auction consisting of 6 suppliers and had 134 bids, including 23 first place turnovers. The final spread between first and second place bidders was only 0.0004% which let the school know they got true market value.

National Hotel Chain Saves 49% on Office Supplies

A national hotel chain banked big savings on office supplies through their 2nd bid with eBridge.  Four suppliers participated, making for an exciting bid with 78 placed bids and 31 first place turnovers declaring the lowest spread between 1st and 2nd place at 0.41%.  The hotel was very happy with the results and cut their budget nearly in half by saving 49%!

eBridge’s Reverse Auction Strategy Delivers for Third Consecutive Year

A southern state ran a printing contract for the third consecutive year as a reverse auction bid through eBridge.  There were four pre-approved bidders and because two of the bidders were willing to compete aggressively for the business, it was a very exciting auction.  The low bid was reduced 37 times over the course of an hour and the price dropped about 25% from the opening bid.  In the end, the taxpayers will be paying 3% less than they paid the previous year and 36% less than they paid for the same contract when it last ran as a traditional bid in 2008.

Corrections Department Cleans Up On Soap

The Department of Corrections for a Southern State ran their 12th reverse auction bid with eBridge today.  The event was a live online bid for bar soap and it was one of the most competitive bids ever run by eBridge.  Four suppliers were pre-approved to participate in the bid.  A good reverse auction is generally defined as one that has 10 or more first-place turnovers and a spread between 1st & 2nd place of less than 2%.   The original clock started at 15 minutes and because the bidding doesn’t stop until no lowering bids are placed in the final three minutes, the event went for 115 minutes.  In the end, there were an amazing 321 first place turnovers and a spread of just .10% between first and second place.  This bid was last run in 2007 as a traditional sealed bid.  Thanks to a successful reverse auction, the cost of soap actually decreased by 9.5% for the state and its taxpayers.

CA University Will Sleep Better After Saving 12.5% on Their Dorm Room Furniture Through eBridge’s Reverse Auction Process

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%.

eBridge’s Reverse Auction Wins Again, Saving a Large Southern University $1.2 Million on Copy Paper and Ink & Toner

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.

eBridge Helps CA University Flush-Out All Doubt Towards Reverse Auctions by Achieving a 15% Savings on Their Annual Janitorial Paper & Feminine Hygiene Products

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.

eBridge Equips Hotel Chain with a 15.6% Savings on Kitchen Equipment Bid

For their 3rd event a large resort/hotel chain used reverse auction for the purchase of Kitchen Equipment. There were four participating suppliers competing extensively for the opportunity to win this event. There were 123 bids placed with 8 first place turnovers. At the close of the bid the spread between 1st and 2nd place was 0.10%, reflecting true market value. The hotel chain saved 15.6% off their budget, and was pleased with the results.

State Agency Runs Competitive Printing Reverse Auction Bid

A state health agency on the East Coast ran a very successful ID card printing bid using eBridge’s reverse auction technology.  The agency had used a previous quote to establish a budget of $147,000 for the five year contract.  Seven bidders were approved by the agency to compete for the business.  At the end of the 25 minute online bidding event, a local vendor won the bid at $107,902.   The second place bidder was only $9 behind and third place was less than $1,000 off the lead.  This once again proves that an eBridge reverse auction delivers not just a great low price, but competitive alternatives.

Third Reverse Auction Bid Gets Amazing Results

A State Education Lottery has successfully been using a reverse auction strategy to purchase its promotional items like pens, cups, and t-shirts with their logo.  The first two auctions came in below budget, but the third bid delivered even more amazing results.  Seven bidders were approved to compete after submitting samples to the agency.  The catalog price for the items was over $150,000 and the State budgeted $129,000 for the purchase.  After an hour of suppliers underbidding each other, the low bid came in at $50,000!  Second place was $51,900 and all seven of the bidders were at least 25% below the budgeted amount.

eBridge’s Reverse Auction Strategy Delivers for Third Consecutive Year

A southern state ran a printing contract for the third consecutive year as a reverse auction bid through eBridge.  There were four pre-approved bidders and because two of the bidders were willing to compete aggressively for the business, it was a very exciting auction.  The low bid was reduced 37 times over the course of an hour and the price dropped about 25% from the opening bid.  In the end, the taxpayers will be paying 3% less than they paid the previous year and 36% less than they paid for the same contract when it last ran as a traditional bid in 2008.

A Private Indiana Company Saves Big on Their 2nd eBridge Reverse Auction

A private Indiana company employed eBridge’s reverse auction process to acquire 45 new Scienscope Cameras and Dell Monitors.  There were 6 participating suppliers that placed: 138 bids, with 29 time extensions, and 30 first place turnovers. The competitive bidding ended with 1 penny separating the 1st and 2nd place suppliers. The Indiana company saved 22% off their budgeted value with their second bid with eBridge.

Competitive Paper Bid for a Georgia County

eBridge teamed with a Georgia county to purchase copy paper. There were 12 highly competitive suppliers, with 28 first place turnovers. The 30 minute bid had an additional 39 time extensions, as the suppliers continued to lower their bids. The spread between 1st and 2nd place was 0.11%, showing an amazing true market value. The Georgia country had a savings of 6.67% on their budgeted value. They were pleased with their savings, as the fuel price increases this year has added cost to their paper deliveries.