21 Questions
What is the main objective of the reverse auction?
Quick comparison of products and services to decide the best amongst all
When is the use of reverse auctions allowed by NNPC Limited?
In a three-round competitive bidding process for procurements where price is a material determinant
What influences the choice of using reverse auctions for procurement?
Nature of the supplier relationship, numbers of suppliers, supply risk management, operational response, cost, and time savings in a transparent and objective manner
In what scenarios does NNPC Limited allow the use of reverse auctions?
When price is a material determinant or when it would increase procurement efficiency
What type of items does the reverse auction benefit according to NNPC Limited?
Non-critical standardized items with many suppliers/vendors
What does NNPC Limited aim to achieve through reverse auctions?
Cost savings by procuring quality goods and services at lowest possible prices
What does NNPC Limited seek to ensure through reverse auctions?
Full transparency and no corruption in the process
What is one of the objectives of using reverse auctions?
Time saving in researching the market and gathering bids from suppliers
How do sellers participate in reverse auctions?
By submitting a single bid or multiple bids that decrease in price
What does NNPC Limited aim to determine through reverse auctions?
The real price of products or services, without extra charges
What is the primary purpose of a reverse auction as described in the text?
To allow sellers to underbid each other to provide goods to NNPC Limited
What is the role of SCM (N-5/6) in the reverse auction process?
Conduct an Expenditure Analysis of current Indirect Procurement Spend
What is the purpose of creating a detailed specification documentation in the reverse auction process?
To outline product or service requirements for the auction format
What is the responsibility of IT (N-3/4) in the reverse auction process?
Use an auction software that is cloud hosted and easy to use
Who reviews e-Auction bids and approves the award decision?
Relevant Tenders Committee
What is a key performance measure related to the reverse auction process?
Timeliness of the Reverse Auction Process
What should be included in the detailed specification documentation for the reverse auction process?
Drawings, spend value, spend patterns, quality and delivery requirements, supplier capability requirements, etc.
What type of software should be used for conducting a reverse auction?
Cloud hosted and easy to use auction software
Who communicates award timelines to participating suppliers after the e-Auction is over?
SCM (N-2/3)
What document should be prepared and transmitted by Tenders Committee Secretary after reviewing e-Auction bids?
Meeting extracts and approval decision to SCM(N-2/3)
What document serves as input for SCM (N-4/5) when creating detailed specification documentation?
Spend Analysis Report
Learn about the competitive process of reverse auction where sellers submit decreasing price bids to the buyer. Understand the objectives and benefits of using this procurement approach for non-critical standardized items with multiple suppliers.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
