WACKER set up eAuctionhouse to call for bids and hold auctions for the procurement of materials and services. During an auction, multiple bidders can make an unlimited number of bids within a defined time period. Depending on the setting, the bidders receive information about the current ranking and best price. WACKER's procurement units usually utilize the reverse-auction method, whereby prices sink as the auction progresses. Calls for bids and auctions increase the transparency of negotiation processes. In addition, WACKER's own platform ensures the security of data and prevents unauthorized access.
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