What is auction close in SAP LOD-ESO - Sourcing OnDemand?

SAP Term: auction close

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The date and time at which auction bidding stops.

Smart SAP Assistant

• Key Concepts: 
  Auction Close is a feature of SAP LOD-ESO Sourcing OnDemand that allows buyers to close an auction at any time. This feature allows buyers to end an auction before the scheduled end time, and it also allows buyers to extend the auction if they need more time to make a decision. 
  
  How to use it: 
  To use the Auction Close feature, buyers must first log into their SAP LOD-ESO Sourcing OnDemand account. Once logged in, buyers can select the “Auction Close” option from the main menu. This will open a window where buyers can select the auction they wish to close. Once selected, buyers can enter the new end time for the auction and click “Close Auction” to close the auction. 
  
  Tips & Tricks: 
  When using the Auction Close feature, it is important to remember that all bids placed after the new end time will not be counted. Therefore, it is important to set a reasonable end time that allows all bidders enough time to submit their bids. 
  
  Related Information: 
  For more information on using the Auction Close feature in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation available on SAP’s website.