Bid Out Process Explained

Bid Out Process: This is Enverus's proprietary limited, anonymous, reverse auction format. This allows the Suppliers to see a one-time snapshot of their rank from a price perspective against anonymous competitors.

Line item pricing or who the competitors are on each bid is never exposed to the suppliers.

An email like the example below is sent to suppliers and the suppliers have 4 hours to update their pricing.

Suppliers can only lower their price during this 4 hour window.

We frequently see up to 25% price movement during this 4 hour window.