10-Minute Auctions | The newest addition to our auction family, 10-Minute Auctions, are available throughout the day. They offer you an exciting bidding experience of assorted products within a 10-minute bidding timeframe. Bid and win before finishing your cup of coffee! | |
Administration Tool | The component of the Silanta Technologies solutions that allows the data administrator to set-up and monitor auctions and exchanges. | |
Application Service Provider
(A.S.P.) | An online outsourcer or hosting service for applications, letting net-market makers rent, instead of buying, applications and services such as auctions, exchanges and catalog aggregation. Many application vendors are moving to a hosting model, but ASPs are often application-agnostic, plugging a feature of one application into a marketplace when appropriate and using another feature from another vendor elsewhere. | |
Auction | A transaction driven by a single entity where the winning bid is determined by price, quantity and time. | |
Asset Management | The process of keeping track of a company's assets from requisition through disposal. | |
Bid Analysis | The purpose of bid analysis is to select the goods and/or services which offer best value for money. | |
Bidder | The person making a bid on an offering in an auction or trading exchange. Also referred to as an end user or participant. | |
Business-to-Business
(b2b) | A marketplace in which businesses trade or negotiate with other businesses, not consumers. | |
Business-to-Consumer
(b2c) | A marketplace in which businesses trade or negotiate directly with consumers. | |
Consumer-to-Consumer
(c2c) | A marketplace in which customers interact directly with other customers.
Online RFQ activities between individual consumers and businesses. | |
Dynamically Pricing | A buying or selling process where the prices for products and services are determined in almost real time between trading partners based on supply and demand. | |
Dutch Auction
(Descending Price Auction) | A Dutch auction is a basic descending price auction, which means that bidding starts at a high price and is progressively lowered until a buyer claims an item. | |
Electronic Requisitions
| They help organizations easily monitor their purchasing process, via a paperless workflow, from start to finish. | |
English Auction
(Forward Auction) | An English auction begins with the lowest acceptable price and solicits successively higher bids until the auction is closed or bidding stops. Items are sold to the highest bidders. | |
Express Auctions | Express Auctions are offered throughout the day, but each lasts for only one hour and offers a limited assortment of special merchandise. With all bidding starting at only $1, you can expect to land some astonishing deals. | |
E-procurement Software | Technology that enables people to order goods and services online. | |
Fixed-Price Format | Standard, static-priced selling. | |
Full-Quantity-Only Bid | An auction or trading exchange in which bidders must bid for the entire quantity of inventory offered. | |
Intelligent Caching | An algorithm that provides optimal server throughput and maximizes the supported number of simultaneous requests per minute by storing recently requested information in memory. | |
Interoperable | Interoperable means that two separate computer applications or systems can be connected via custom programming, a software application such as a middleware program, or other means. | |
Liquidation Auction | An internet marketplace for buying and selling surplus, B2B goods. Liquidation Auctions can be used to liquidate merchandise from bankruptcies, receiverships, closeouts, inventory overruns, buybacks, insurance claims and other distress situations. | |
Partial-Quantity Bid | A bid in which a potential buyer is willing to accept less than the quantity originally specified. | |
Procurement | A purchasing process where the best value for goods and services are attained through vender bidding. | |
Reverse Auction | A reverse auction allows buyers to post items they want to buy and sellers to compete for the best price at which the buyer will accept the items. This auction format is ideal for procurement. | |
Sealed-Bid Auction | Buyers submit any number of bids anonymously for different quantities of goods until the auction closes. | |
Second or Lowest Price Options | In ascending price auctions, the second or lowest price options can be used to determine the winning price. Items are awarded to the highest bidders at either a price equal to the second-highest bid or the lowest winning bid. This is also known as Vickrey Auction. | |
Shill Bidder
(Shill) | A shill bidder is a bidder at an auction like yours with one exception. This person has no intention of buying anything. His sole purpose is to drive the bidding as high as he can without having the final bid. Shill work for the auctioneers who receive a commission on the total dollar amount that is sold. Shills are illegal. If you see someone who bids a lot but never buys anything, watch out, he may be a shill. Stay away from this auction. | |
System Integrator | A system integrator is a Silanta Technologies partner that customizes Silanta Technologies functions and features to meet specific, customer requirements. This includes additional Web site functionality and designing and creating interfaces between the Silanta Technologies solutions and existing business systems, such as an order fulfillment application. | |
Trading Exchange | A set of transactions with many buyers and sellers that most often involves more criteria than just a price, quantity and time, such as shipping terms or condition of goods. | |
Vendor-Managed Inventory (VMI) | This involves inventory management control techniques, return on investment, inventory turns, seasonal demands, and cycle counting. | |
Vertical Marketplace | Vertical markets are targeted at single industries and integrate multiple roles and functions within that industry. | |
Vickrey Auction | In a Vickrey Auction, bids are sealed and each bidder is unaware of the other bids. The highest bidder is awarded the winner at a price equal to the second-highest bid (or highest unsuccessful bid). In other words, the winner pays less than the highest bid. | |
Yankee Auction | A seller-initiated auction in which multiple units constitute the lot offered for purchase. Differs from a Dutch or Vickery auction in that successful bidders pay the prices they bid, rather than pay the price of the successful bidder for the marginal unit. This variant may not be allowed for most commodities as it would constitute price discrimination, but is a possible variant for items where yield management pricing is allowed (e.g. airline tickets). | |
Reserve Price | The reserve price is the lowest price a seller is willing to sell an item for. This amount is generally higher than the minimum bid. In order to win the auction, a bidder must meet or exceed the reserve price and have the highest bid. | |
