DuPont uses S2P Connect (powered by GEP SMART) for online events including RFx, (Request for Information, Proposal, and Quotation) and eAuctions.
Benefits of the E-Procurement tool
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If you need support, please contact the GEP team at support@gep.com
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What is an Auction?
A buyer puts a bid out for goods or service to multiple sellers. Suppliers offer bids on the item, competing to offer the lowest price that meets all of the specifications of the bid. As the auction progresses, the price decreases as sellers compete to offer lower bids than their competitors. (It may be easier to think of it as a “Reverse” Auction.)
Bidding performed in real-time via the internet results in a dynamic, competitive process.
The buyer may award the contract to the seller who bid the lowest price. Or, a buyer may award contracts to suppliers who bid higher prices depending upon the buyer's specific needs with regards to quality, lead-time, capacity, or other value-adding capabilities.
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