Thank you to those of you who attended this Webinar. Below are the questions from the sessions with their corresponding answers. Please feel free to use Ariba Exchange to respond to this post and interact with your peers. We look forward to speaking with you again in a future session!
Question: What's the difference between lot and item?
Answer: A lot does not calculate any quantities, it is an entity of one. Line items expect an item price which is then multiplied out by the quantity to provide an 'Extended Price
Question: What is the the difference between a serial vs. staggered auction structure/
Answer: Serial is one after the other, 1 opens, 1 closes, 2 opens, 2 closes. In this format suppliers only see one item and can only bid on one item at a time. Staggered is all (1,2 & 3 etc) open simultaneously, then 1 closes first, then 2 closes 10 minutes later (e.g.), then 3 closes 10 minutes after that. Suppliers can theoretically bid on any of the items/lots, but it is indicated which item will be the next to close and are encouraged to focus on that item/lot.