Online Sales. Proven Technology.
Offer & Event Administration
The trading functions are designed to provide easy, online construction, monitoring and management of product sales as negotiated or firm offers and within an auction. Your staff determines which items and quantities are to be sold and defines lots with a reserve (floor) price when creating the offer or moving the offer into the auction. The system provides the tools to create offers by data entry directly on screen within an edit panel as well as imports or system interfaces. Using saved information from your product administration database, only offer specific data such as quantity, location and manufacturing date are required to create the offer. Offers are made visible to a buyer based on invitations, counter party management policies, user permissions and product eligibility set by the seller. The seller has exclusive rights to view all bidder information and can review bid history to see all buyers and their bids on each offer.
With negotiated selling, products are offered with a Buy Now price. Buyers can purchase the product at the offered price or place a counter bid for negotiation with your sales team. The negotiated selling option allows you to present offers to your buyers as soon as the product is available to sell. Our solution complements our instant, mobile technology world. As a buyer or seller, you have the option to communicate with your trading partners via instant messaging inside our system. This eliminates the need for other channels of interaction while providing you with a documented history of the communication.
With auction-style trading, products are offered within time definite event. Auctions can be constructed to accommodate one or more products per auction as well as one or more offers of the same item. You can set a preview period for some time prior to the opening of the event to allow buyers to review product to be offered. Buyers can enter bids during the preview period and bids are locked in when the auction begins. Buyers can utilize the unattended bidding functionality which allows the buyers to establish starting and maximum bids. As the auction proceeds and other bids are placed, the bid is raised incrementally. Buyers can also add the offer to a Watch List to have the offer highlighted with a star. At the close of the event, the system awards the offer to the highest bid if above the reserve price on each offer. You may accept bids that do not reach the reserve price as well.
Once a firm or negotiated offer is sold or an auction is closed, Food & Beverage Market Solutions generates all confirmations, trade documentation and invoicing, and data transfers to you relative to sale. Sold offers are automatically removed from market immediately to prevent double-booking of the inventory.