Frederick County Public Schools saved $162,500 on their purchase of tires and retreads. In just 52 minutes of auction time, the public school system was able to save 65% on budget with the help of eBridge. The 4 participating suppliers held a competitive auction with 181 bids including 14 first place turnovers. The final spread of 0.0009% showed that the school system was able to capture market pricing.
Saves 5% off budget price on six new vehicles in preparation for 2010 school year
A school district needed to purchase a variety of vehicles prior to the start of the 2010-2011 school year. With tighter operating budgets, the school was looking for ways to save on cost, but not cut safety or necessity when providing a quality education and supporting programs to its students.
The school district sought to purchase six different vehicles, including maintenance trucks and driver’s education vehicles. They enlisted the expertise of eBridge, to provide purchasing consulting and the reverse auction platform.
Six car dealerships participated in the event, placing a total of 38 bids on the six vehicles included on the reverse auction. The clock extended 32 times indicating that the dealerships were excited to win the business for the new vehicles and that the school district was closer to achieving true market value for the purchase.
At the conclusion of the event, the price was five percent lower than their budgeted value and the school district was able to purchase all six vehicles and still meet budget.
As our economic future remains uncertain, it is important to maintain quality education for our young citizens. By incorporating purchasing efficiencies in to our routine purchases in education facilities, like the reverse auction, maintaining quality education becomes a reality.
Today at eBridge we had a successful bid run for a light-duty rescue truck. A northern city needed to purchase one and eBridge was more than happy to assist. We sourced 12 suppliers to bid, seven of which were new suppliers that had never had the opportunity to earn the city’s business.
Our team of procurement professionals trained each supplier on how the bidding process works and the auction was successful. There were 126 total bids and first place changed 10 times. Since the city chose to run this purchase through the reverse auction format we were able to save them 9.09% off their original budgeted price. We average a savings of 14% but the real goal is to achieve true market value. In this case, true market value was 9.09% below their budgeted price.
Remember eBridge for your light AND heavy-duty needs!