I think there's a real possibility for getting some small businesses involved who may not have been before. Here's how to make sure you get the most out of these online auctions. Send up a flag. If you make widgets, it doesn't do any good to market yourself to an agency that doesn't buy widgets. Before you log on to bid during an online auction, make sure you have a solid grip on what it will cost to deliver the goods.
Auctions can move quickly, depending on the number of suppliers placing bids.
You don't want to get caught in the rush and excitement and bid lower than you can afford, just to get the contract. We don't want them to get into the winner's curse. Know your cost structure and know your limit. One of the main goals of the online procurement process is to save the government money. So, there's a big commitment by government agencies to take the lowest qualified bid.