What is any price bidding in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: any price bidding

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: An option which allows placing a bid of any value, either greater than or less than the current leading bid. This option allows the leading bid value to move up or down regardless of auction type.

Smart SAP Assistant

• Key Concepts: 
  Any Price Bidding is a feature of SAP LOD-ESO Sourcing OnDemand that allows buyers to solicit bids from suppliers without specifying a price. This allows buyers to get the best possible price for their goods or services. The buyer can then select the supplier with the lowest bid. 
  
  How to use it: 
  To use Any Price Bidding, buyers must first create a sourcing event in SAP LOD-ESO Sourcing OnDemand. They can then invite suppliers to submit bids for the goods or services they need. The buyer can review the bids and select the supplier with the lowest bid. 
  
  Tips & Tricks: 
  When using Any Price Bidding, buyers should make sure that they are clear about their requirements and expectations. This will help ensure that suppliers are able to submit accurate bids and that buyers get the best possible price for their goods or services. 
  
  Related Information: 
  Any Price Bidding is just one of many features of SAP LOD-ESO Sourcing OnDemand. Other features include Request for Quotation (RFQ), Request for Proposal (RFP), and Reverse Auction. Buyers can use these features to find the best supplier for their needs.