What is 'auto extension point before end time' in SAP SRM-LA - Live Auction?

auto extension point before end time - Overview

• Component: SRM-LA

• Component Name: Live Auction

• Description: Defined in minutes, a point in time, prior to the scheduled end date andtime of a live auction, after which any bids received initiate the automatic extension settings defined for the auction.

auto extension point before end time - Details

• 
  Key Concepts: 
  Auto extension point before end time is a feature of SAP SRM-LA Live Auction. It allows the auction to be extended automatically if a bid is placed within a certain amount of time before the end of the auction. This ensures that all bidders have an equal chance to place their bids and that the auction runs smoothly. 
  
  How to use it: 
  To use this feature, you must first enable it in the SRM-LA Live Auction settings. Once enabled, the system will automatically extend the auction if a bid is placed within the specified amount of time before the end of the auction. This ensures that all bidders have an equal chance to place their bids and that the auction runs smoothly. 
  
  Tips & Tricks: 
  When setting up auto extension point before end time, it is important to set a reasonable amount of time for the extension. Too short of an extension period may not give bidders enough time to place their bids, while too long of an extension period may cause confusion and delay the auction process. 
  
  Related Information: 
  For more information on auto extension point before end time, please refer to SAP's official documentation on SRM-LA Live Auction. Additionally, there are many online resources available that provide tips and tricks for setting up and using this feature.