PurchasePro customers held 135 reverse auctions in March using its e-Source strategic sourcing solution, compared with 201 in February.
Low bids totaled $110 million, against opening bids of $161 million, for an implied savings of $51 million or 32 percent. In February, low bids were $37 million, against opening bids of $75 million, for a market spread of $38 million or 51 percent.
In March 12 companies held reverse auctions, attracting 2,663 bids from 672 suppliers. In February 11 companies attracted 2,424 bids from 794 suppliers.
PurchasePro said the change in raw auction numbers reflects normal seasonal variations in procurement.
PurchasePro also said 20,000 purchase orders, valued at $32 million, crossed its commerce network in March, compared with 26,800, worth $28 million, in February.
