What is bid in SAP SRM-LA - Live Auction?

SAP Term: bid

• Component: SRM-LA

• Component Name: Live Auction

• Description: A response to an auction in which a bidder offers to sell goods or services at a certain price. Offers can be subject to complex pricing and conditions.

Smart SAP Assistant

• Key Concepts: 
  A bid is an offer made by a bidder in a live auction. In SAP SRM-LA Live Auction, a bid is an offer to purchase goods or services at a certain price. The bidder can also specify the quantity of goods or services they are willing to purchase. The highest bid wins the auction and the bidder is obligated to purchase the goods or services at the price they have offered. 
  
  How to use it: 
  In SAP SRM-LA Live Auction, bidders can submit bids for goods or services they are interested in purchasing. The bids are then evaluated by the system and the highest bid wins the auction. The bidder is then obligated to purchase the goods or services at the price they have offered. 
  
  Tips & Tricks: 
  When submitting a bid in SAP SRM-LA Live Auction, it is important to consider the quantity of goods or services you are willing to purchase as well as the price you are willing to pay. It is also important to consider any additional costs associated with purchasing the goods or services, such as shipping and handling fees. 
  
  Related Information: 
  In SAP SRM-LA Live Auction, bidders can also submit counter bids if they are outbid by another bidder. Counter bids allow bidders to increase their bid in order to win the auction. Additionally, bidders can also submit proxy bids which allow them to set a maximum amount they are willing to pay for an item and have the system automatically increase their bid up to that amount if necessary.