What is 'bid increment' in SAP LOD-ESO - Sourcing OnDemand?

bid increment - Overview

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The amount by which a valid bid must differ from the leading bid.

bid increment - Details

• 
  Key Concepts: 
  Bid Increment is a feature of SAP LOD-ESO Sourcing OnDemand that allows buyers to set a minimum amount by which bids must be increased in order to be considered valid. This helps to ensure that bidders are not able to submit bids that are too low, and helps to ensure fair competition among bidders.
  
  How to use it: 
  In order to use the Bid Increment feature, buyers must first set a minimum bid increment amount. This can be done in the “Bid Increment” section of the Sourcing OnDemand settings. Once this is done, any bids submitted that are lower than the minimum bid increment will be rejected.
  
  Tips & Tricks: 
  When setting the minimum bid increment amount, it is important to consider the size of the bids being submitted. If the bids are relatively small, then a smaller bid increment may be appropriate. However, if the bids are larger, then a larger bid increment may be necessary in order to ensure fair competition among bidders.
  
  Related Information: 
  For more information on how to use the Bid Increment feature in SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation available on the SAP website.