services
Bookmark and Share

e-Auction

e-Auction is a part of the strategic sourcing process.  It is a procurement tool using web-based software that allows suppliers to bid online for a contract for the supply of goods or services.  It is sometimes called a 'reverse auction' because bids are reduced and not increased as in a traditional auction.  The objectve is typically to arrive at the lowest total cost as distinct from lowest price.

 The e-Auction process has been piloted in the State Enterprises and has seen much success. The strategic plan for e-Auctions for the upcoming financial year will be scheduled structured events throughout the year. At this time, a Financial Expenditure Analysis is underway to assist in determining the items where greatest savings can be realized un the short term.

An eAauction for Personal Protective Equipment (PPE) for State Enterprises has just been completed showing initial savings of over 40% on traditional prices. Suppliers for these events also take advantage of the colloborative quantities of purchase through these eAuction Events.  

State Agencies participating in the PPE E-Auctions were:

  1. Water and Sewreage Authority (WASA)
  2. Petroleum Company of Trinidad and Tobago (Petrotrin)
  3. South West Regional Health Authority (SWRHA)
  4. Evolving Tecknologies and Enterprises Company Limited  (ETeck)
  5. Point Lisas Industrial Port Development Company Limited (PLIPDECO)

 

For further information persons can contact:

  • Mr. Kwesi Riley - eAuction Manager/ email: rileyk@gov.tt ;Phone: 627-9700 ext. 2514 Fax: 623-6338

E-Auction Events

  • Photocopy Paper - Friday 8th April, 2011 (see product specification links below for event)

        Product Specification

        8.5x 11; 8.5 x 14; 11 x 17; 210mm x 297mm; 

Resources

Videos

caption
Copyright 2012, Ministry of Finance, Government of the Republic of Trinidad and Tobago