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

SAP Term: surrogate bid

• Component: SRM-LA

• Component Name: Live Auction

• Description: Bid placed by the purchaser on behalf of a particular bidder. The purchaser actually logs on as the intended bidder and is presented with the same cockpit view as that bidder would have, including any transformed price information resulting from factored-cost bidding.

Smart SAP Assistant

• Key Concepts: 
  A surrogate bid is a feature of SAP SRM-LA Live Auction that allows a bidder to assign a proxy to bid on their behalf. The proxy can be either an individual or an automated system. The proxy will then submit bids on the bidder’s behalf, based on the bidder’s instructions. 
  
  How to use it: 
  To use the surrogate bid feature, the bidder must first create a proxy account and provide instructions for the proxy to follow. The bidder can then assign the proxy to bid on their behalf. The proxy will then submit bids according to the instructions provided by the bidder. 
  
  Tips & Tricks: 
  When creating instructions for the proxy, it is important to provide clear and concise instructions that are easy to understand. It is also important to provide detailed information about the bidding strategy that should be used. This will ensure that the proxy is able to submit bids in accordance with the bidder’s wishes. 
  
  Related Information: 
  The surrogate bid feature is available in SAP SRM-LA Live Auction. For more information about this feature, please refer to the SAP SRM-LA Live Auction documentation.