Creating Lots

Step 1: Create the new lot

From within the desired event, click the Lots tab, then click the New Lot button in the upper-right.

From this screen, you'll complete all the required fields to create the lot.

Name: The name of the lot will appear in the bidder and observer interfaces, as well as the event schedules shown on the dashboard, and event overview.

Rank type:
- Price: Price ranking ranks bidders by lowest price.
- Score: Scored ranking ranks bidders based on the RFP scoring weighting system. See the RFP scoring documentation for more information.
Direction:
- Forward: Buyers compete to purchase good or services by offering incresingly higher prices.
- Reverse: Sellers compete to obtain business from the buyer by offering decreasing prices.
Auction Type:
- Dynamic: Bids are accepted when bidders lower their bid by the minimum required amount (determined by minimum decrement line item setting), even if their rank does not change.
- English: Bids are accepted only if they beat the 1st place bid.
Rank using extended quantities: When checked, bidders' overall lot rank will be calculated by totaling the bid extended amounts (bid x extended quantity). When unchecked, bidders' overall lot rank will be calculated by totaling their base bid amount.
Aggregate Ext B/L (optional): When evaluating savings at a lot level, the platform will automatically calculate the sum of all line item baselines automatically. If not provided, the software will calculate an aggregate baseline using the sum of all line item baselines.

The settings in this section affect the bid timer.

Starts date & Start time: The date and time that the lot will open.
Duration: The initial duration of a lot. May be extended by extension periods if configured.
Allow extensions: Uncheck to disallow extensions.
Extension period: Configured in seconds. The extension period is measured from the end of the duration. If a valid bid is received within the extension period, the lot timer resets to the value of the extension period.
Max (optional): Configured in seconds. The maximum amount of time a lot can be extended. If not provided, the lot will extend until bidders stop placing bids.

Settings in this section are used to show or hide elements in the bidder interface.

Rank visibility: Determines what ranks a bidder will see.
- Lot: Show bidder's lot level rank. Note that the calculation of this rank is affected by the "use extended quantities" setting in the evaluative settings section.
- Line Item Ranking: Show bidder's line item rank.
Template (optional): Configures the visibility of elements on the bidder interface. If no option is selected, neither element will be shown.
- Ext bid column: Show a column that calculates the bidder's extended bid per line item.
- Sum footer: Show a footer containing sum totals for bid amounts and extended amounts (if shown).
Bid Visiblity: Configures the visibility of competitive bids.
- Sealed: Bidders see only their own bid and rank.
- Open: Bidders see their own bid, a list of other ranked bids, and their rank.
- Lead Only: Bidders see their own bid, the current lead bid, and their rank.

When you are satisfied with your event configuration, click the Save button.

Your account must have the appropriate permissions to create lots.