Pre-RFQ eAuction Unlocks Competitive Price Benchmarking  

Auction Stage: Pre-RFQ 
Category: Bulk Stamping Components 
Procurement Mode: Reverse Auction via Moglix eAuction Platform 

Client Objective 

To evaluate real-time market pricing for a high-volume stamping item—before releasing the formal RFQ—and to streamline supplier shortlisting based on competitive response. 

eAuction Strategy 

• A reverse auction was initiated at the pre-RFQ stage to test supplier competitiveness early in the sourcing cycle. 

• Start price was strategically set based on past procurement data to encourage bidding activity. 

• Event attracted qualified suppliers, creating a healthy competitive environment. 

Platform Impact 

• Delivered a ~2.4% cost reduction per unit, establishing a more competitive baseline. 

• Helped the buyer identify potential suppliers for sample evaluation and further negotiation. 

• The auction insights gave the procurement team strong data-driven confidence during internal pricing discussions and customer interactions. 

• Enabled faster supplier alignment before the formal RFQ issuance. 

Result 

The eAuction platform played a pivotal role in shaping the buyer’s sourcing strategy—well before the final order stage. With early visibility into market dynamics and supplier performance, the buyer accelerated decision-making and positioned themselves more competitively in customer negotiations.