How It Works
IN A NUTSHELL
transforms the way you buy or sell
everyday goods & services, making doing business easier, faster and cheaper.
Suppliers compete for Buyers combined generic demand, in a live reverse auction environment. The process takes minutes rather than days.
SEARCH & SAVE to LIST
Simply compare ‘apples with apples’ of generic goods or services in each region.
Buyers and Suppliers search by product category, region and specification and then add Goods or Services to their 'Favourites List'. This process simplifies and commoditizes product selection.
Simply search by region, category and specification to select Goods & Services and add to their Favourites List. Buyers can then make up a list of products they require and hold in 'Favourites List ' which also shows number of eligible supplier’s other local demand for the same product that you are requesting. Then encourage others to aggregate demand to improve your purchasing power.
Can add by category and region to be eligible to bid for .
any product in that category.
It is also possible to input a ‘List’ price and ‘Reserve’ price, (making pricing automatically available when bidding) as well as add SKU numbers, view current 'Flocking' demand and competitive pricing. An email alert will be sent if there are any Flocktion’s taking place for the eligible Suppliers range of products and regions.
CART SUBMISSION & BIDDING
Buyers can make up a cart to achieve the most competitive combination of products before submitting to eligible Suppliers who may want to provide a competitive up-front price or save their best price until the Flocktion close.
Can select review and adjust their Cart based on the competitive environment either to purchase a range of products or to request contract pricing. If the product listed doesn’t quite fit your needs just add a note in special request. Then add delivery details including freight and the number of days the goods would be required in then hit submit. Supplier Bids (that may fluctuate) can then be accepted at any time except between 10am & 4pm each Wednesday. At 4pm on Wednesday the final Flocktion result is available and the Buyer has 36 hours to accept or decline the best offer.Suppliers can strategically bid either across the board or in individual Flocktion’s before and or during the Flocktion.
Review and adjust their bid to be the most competitive before 10am each Wednesday either (across the board by ‘reserve’ in their Favourites List) or via individual Flocktion’s. From 10am to 4pm each Wednesday the ‘bids’ can’t be reversed.
ACCEPT/DECLINE & SETTLEMENT
On acceptance of the offer the Buyer and Supplier provide the goods and payment based on the details of the Voucher. The Buyer provides feedback on the successful delivery of the goods or services.
Can accept or decline the best bid at any time, and the final Flocktion price up to 36 hours after the Flocktion completion each Wednesday at 4pm. On acceptance of the winning bid Buyers are required to pay Suppliers by direct credit before despatch unless a deposit or if other arrangements have been made. Buyers are required to provide feedback on receipt of the goods.
Need to make sure they have sufficient product available before placing their bids. Product need to be dispatched within agreed time period. On completion and feedback from the Buyer, FlocknSave ltd will invoice the agreed success fee.