Help in implementing an auction scenario

[Former Member]

Hi Experts,

We have a scenario to implement for an open bidding type of auction. The scenario is as follows:-

An auction is being conducted for debt collection services, where the buyer has 2 line items-
1. Buyer's share is minimum 20% recovery of debt (100 USD) within 3 months
2. Buyer's share is minimum 30% recovery of debt (100 USD) within 3 months
The suppliers can bid for their share on 20% of 100USD or 30% of 100USD, which can be within 12% to 8 %
*Most preferably, the bidding has to be in %

I have tried this scenario in my system, but the system only allows me to submit bids in the document currency. Also, the supplier needs to calculate his share of 20% of 100USD and place his bid. For eg:- if the supplier wants to bid for 10%, then he needs to calculate his amount as 10% of 20% of 100 USD manually and then place his calculated value as a bid.

But the current requirement says, that the system should do all the calculation and supplier should only place his bid as 10%.

Please help me to implement this scenario in a best possible way.

Thanks in advance!
Vaishali Soni

[former_member200421]

Hi Vaishali,

If I'm understanding your scenario correctly, I think you should be able to achieve this with a formula.  Will supplier only be bidding the percentage?  What are all of the components of the calculation?  Is it as simple as just the percentage multiplied by the recovery of debt value?

Thanks much,

Rosemary