Cognitive has developed cutting-edge e-auction solutions for clients across the globe. Our e-auction system is a highly secured platform where bidders can safely participate in bidding events for a wide range of products and services.

Forward Auctions: Some of the products and assets commonly sold through our forward auction solutions include:

• Surplus raw materials, finished goods, and work-in-progress materials
• Assets such as factories, machinery, and equipment

Our forward auctions solutions provide an efficient marketplace for buyers to bid on and procure these items at competitive prices discovered through real-time bidding.

Reverse Auctions:In addition to forward auctions, we offer robust reverse auction capabilities for sourcing and procurement, including:

• Blockchain-based smart contracts for transparent transactions
• Real-time bidding for dynamic price discovery
• B2B marketplace connecting buyers and suppliers
• Specialized solutions for metals, thermal power plants, and petroleum refinery companies

Multi-Format Auction Types Our platforms support a wide array of auction formats to meet diverse business needs, such as:

• Forward auctions: English, Dutch, Japanese
• Reverse auctions
• Ranked auctions
• Closed bid tenders
• Multi-lot optimization

Bid Optimization and Calculations: Our system enables advanced bid optimization through features like:

• Bill of Materials (BOM) bidding system
• Score calculations for multi-parameter bids
• Speciality solutions like MRO sourcing

With Cognitive’s secure and versatile e-auction solutions, businesses can streamline sourcing, sell surplus assets efficiently, and optimize their supply chain through competitive bidding events tailored to their industry.