What is 'early close' in SAP LOD-ESO - Sourcing OnDemand?

early close - Overview

• Component: LOD-ESO

• Component Name: Sourcing OnDemand

• Description: A feature that closes an auction line item early if no bids are received within a specified time period.

early close - Details

• 
  Key Concepts: 
  Early close is a feature of SAP LOD-ESO Sourcing OnDemand that allows buyers to close an auction before the scheduled end time. This feature is useful for buyers who need to make a decision quickly or who have already received the best offer. 
  
  How to use it: 
  To use the early close feature, buyers must first select the “Early Close” option in the auction settings. Once this is done, buyers can close the auction at any time before the scheduled end time. 
  
  Tips & Tricks: 
  When using the early close feature, buyers should be aware that all bids received before the early close will still be considered valid. Therefore, buyers should take care to review all bids before closing the auction. 
  
  Related Information: 
  For more information on early close and other features of SAP LOD-ESO Sourcing OnDemand, please refer to the official documentation available on SAP’s website.