After you have released the reverse auction to the Web portal, you will, hopefully, receive responses from the vendors. The vendors' responses will automatically be copied to the lines on the subform in the Reverse Auction window.
The Status field on the subform will change according to the vendors' responses. There are three status possibilities:
Updated, if a vendor responds to the auction by bidding.
Declined, if a vendor declines the auction.
Released, if a vendor doesn't respond at all. The Released status is the initial state.
A check mark in the Vendor Comment field indicates that the vendor has entered a comment. You can read the comments by clicking Rev. Auct., Comments.
When the closing date has passed or you have closed the reverse auction by using the Close Reverse Auction for Offers batch job (see Closing a Reverse Auction) you must evaluate the bids, and consequently select the winning vendor by doing the following:
Open the Reverse Auction window:
In the Reverse Auction window, on the subform, select the vendor you want to buy from.
Click Functions, Select Vendor.
The winning vendor has now been selected:
If you decide to choose another vendor than the one you selected, you can cancel the selection of the first vendor and afterwards select a new one:
Click Functions, Unselect Vendor.
The first vendor has now been cancelled.
If you have set up the relevant reverse auction notifications, the vendors will receive notifications of the result of the reverse auction. See Setting Up Notifications to read more about notification management.