Reverse auctions are one of the most powerful tools in ensuring fair competition and to achieve the best available price. By using a state-of-the-art reverse auction platform, the E&I Procurex contract helps clients buy all kinds of commodities and services.
- Help identifying suitable purchase items or categories, guidance in developing specifications, recommendations on strategy, and other input as needed
- An easy-to-use, web-based tool that provides access to all pertinent terms and conditions, detailed specifications and other necessary elements of the competitive auction process
- Three flexible models to conduct a bidding event:
- E&I Scheduled – Fixed schedule of national and regional reverse auction events fully-managed by E&I and Procurex through all phases of the process. With member input, an annual calendar of potential commodity or service targets will be developed and posted online.
- Institutional Self-Managed – Self -managed model allowing E&I Members to play an active role in the management of their own reverse auction events. You can host an unlimited number of self-managed events across a 12 month period with an annual subscription fee.
- Institutional E&I Managed – A fully managed single reverse auction event program that is paid for by suppliers. This means, there are no direct fees payable by the participating institution. Simply identify a category for reverse auction bidding and allow Procurex to manage the process and save you money.
E&I Procurex Contract
E&I members can begin using the contract immediately. See the Ordering Information section for details.