Reverse Auction Integration

We require integrating a Reverse Auction Module within our Online Platform That said – We've created a simple workflow as in the attached document upload. We will need to create both Single and Auction Lots and we will need to evaluate these We'd prefer basically to cater to both scenarios – That is facilitate the process where the lowest price supplier can win the Bid and also to have the documents evaluated after the reverse auction using the lowest price of the bids as the price within the Evaluation. We would also like to have other buyers from remote locations view (ONLY) the reverse auction. We have listed some of the particulars As in the Tender Process there can be multiple forms for adding the Reverse auction requirement it will have the following fields We need to add a Graph for Reverse Auction also. – This Graph is part of the Buyer Console which dynamically displays the price based on the historic price and the prices being bid during the LIVE reverse auction. It also helps the buyer to determine if there are savings to be derived from the Reverse Auction. Other Fields -- Title Description Document Attachment Memo Field Description Category | SubCategory (Same as Tenders) Invited Suppliers | Registered | Pre-Qualified (Same as Tenders) Invited Buyers Invited Evaluators (Same as Tenders) Evaluation Criteria (Same as Tenders) Start Date & Time (Same as Tenders) End Date and Time (There is no real End time) Cost of Starting Auction Type of Deduction (% or fixed) Overtime In Minutes Overtime for Top ---- Bidders Warning message y/n Part of Auction (By Default single if select multiple below option Appears) Value of Deduction Number of Lots Type of Lots (parallel,Staggared ,Serial) Frequency between Lots Show bid to other y/n Document Type Free/Paid If Paid amount (Manage Receipts Approval) When the Buyer Add the reverse auction it will go to admin approval once admin approves Buyer can invite the supplier to fill and upload the document again before the bid starts Once the document approved from the supplier they are eligible for the bidding process When the bidding date arrives they will be open to bid on Reverse auction Reverse Auction System B. Supplier Side: 1. Supplier can see all the available auctions under the section of open reverse Auctions 2. He can only see the reverse auction for which either he has been invited or for which he is a preapproved supplier. 3. If the reverse auction is paid he has to pay and purchase the document 4. He has to than fill and submit the document again to get his acceptance for the bidding on the site. 5. Once his Document got approved he will be set as eligible bidder for the reverse auction. 6. When the auction date come he will be able to bid on the auction 7. He can change his bid any time till the auction closes. 8. There will be warning message if he try to bid very low than the lowest bidder 9. No two bids will be going to same. C. Admin : 1. In Dashboard we need an Additional option to show the Reverse Auctions 3. In the Approval Manager we need to put the Reverse auction Approval also. 4. Reverse Auction Manager Show all available Reverse auction with Search Functionality also Changes in the Admin App: 1. We have to provide the option in the app to approve or reject the auction added by the buyer 2. Admin can see the list of presently running auctions also. 3. Admin can See the Closed auctions also and Savings from the Auctions