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

SAP Term: bidding close

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: The point at which auction bidding stops for one or more line items.

Smart SAP Assistant

• Key Concepts: 
  Bidding close is a feature of SAP LOD-ESO Sourcing OnDemand that allows buyers to close a bidding process at any time. This feature allows buyers to control the timeline of the bidding process and ensure that all bids are received in a timely manner. 
  
  How to use it: 
  To use the bidding close feature, buyers must first create a sourcing event in SAP LOD-ESO Sourcing OnDemand. Once the event is created, buyers can set a deadline for when the bidding process will close. Buyers can then invite suppliers to submit bids for the event. When the deadline is reached, the bidding process will automatically close and no further bids can be submitted. 
  
  Tips & Tricks: 
  When setting a deadline for the bidding process, it is important to give suppliers enough time to submit their bids. If the deadline is set too soon, suppliers may not have enough time to submit their bids and may miss out on the opportunity to participate in the event. 
  
  Related Information: 
  SAP LOD-ESO Sourcing OnDemand also offers other features such as automated bid evaluation and award recommendation. These features allow buyers to quickly evaluate bids and make informed decisions about which supplier should be awarded the contract.