Buyers

  1. Identify three or more suppliers that you want to have compete for something you need to buy, whether it is a service or a product
  2. Click on Create Buying Event to fill out a short form where you can describe what you want to buy and enter the email addresses for the suppliers you want to invite to bid on the business. (Watch the tutorial video on the home page to see how easy it is to set up your bidding event.)
  3. When your bidding event opens, sit back and watch the suppliers compete for your business, driving the price down to the market price
  4. When the bid closes, decide which (if any) supplier you want to award the business to

Sellers

  1. The buyer contacts you, either offline or through SourcingFactory.com, to let you know that there is an opportunity to bid on some business
  2. You receive an online invitation to bid on supplying service or a product to the buyer
  3. You view the details inside the invitation, and can ask the buyer questions online
  4. The bid opens and you can enter bids to try to win the business.  You see how you rank with other suppliers, and can put in your best bid
  5. After the bidding event closes, the buyer chooses which supplier to award business to