What is tied bids in SAP SRM-LA - Live Auction?

SAP Term: tied bids

• Component: SRM-LA

• Component Name: Live Auction

• Description: Two or more bids with the same price that are submitted at relatively the same time. Depending on the validation rules defined for an auction, tied bids may or may not be permitted. Typically if tied bids are not permitted, the one with the earliest timestamp is ranked first.

Smart SAP Assistant

• Key Concepts: 
  Tied bids are a feature of SAP SRM-LA Live Auction that allows bidders to submit bids that are equal to or higher than the current highest bid. This ensures that the bidder is not outbid by another bidder and can secure the item at the current highest bid price. 
  
  How to use it: 
  To use tied bids, bidders must first register for the auction and then submit their bids. The bidder can then choose to submit a tied bid, which will be equal to or higher than the current highest bid. If the bidder’s bid is accepted, they will be notified and can then proceed with the purchase. 
  
  Tips & Tricks: 
  When submitting a tied bid, it is important to remember that the bid must be equal to or higher than the current highest bid. If the bid is lower than the current highest bid, it will not be accepted. Additionally, it is important to remember that tied bids are only valid for a certain period of time, so it is important to submit them as soon as possible. 
  
  Related Information: 
  For more information on tied bids and other features of SAP SRM-LA Live Auction, please refer to the official SAP documentation. Additionally, there are many online resources available that provide helpful tips and tricks for using this feature.