REVERSE AUCTION WITH AI

ABSTRACT
This abstract is based on the topic reverse auction(Tender) with AI.Taking advantage
of new developments in technology, reverse auctions have significantly changed the way
many companies conduct their purchasing. For buyers, the primary benefits include
reduced purchase price, increased market efficiency, higher procurement process
efficiency, and access to a larger supplier base.Making this platform on the basis of AI
will reduce the manual work of employees.
PROPOSED PROJECT
The main objective of this project is to provide some automation processes in the
Reverse Auction with AI.
This proposed project holds information about:
• Tender product
• The organization
• Reference date
• Bid opening date
• Bid closing date
• The cost/Revenue
• Tender return slip
LITERATURE SURVEY
The Central Public Procurement Portal is the basic idea of this project. But it is not
automized. We still need man power to select it. With help of this poject the Procurement
process is automized.
WORKING PROCESS OF THE PROJECT
A reverse auction is a type of auction in which sellers bid for the prices at which
they are willing to sell their goods and services. In a regular auction, a seller puts up an
item and buyers place bids until the close of the auction, at which time the item goes to
the highest bidder. In a reverse auction, the buyer puts up a request for a required good or
service. Sellers then place bids for the amount they are willing to be paid for the good or
service, and at the end of the auction the seller with the lowest amount wins. Generally
we should visualize the options manually. We have to work out for the costs bidded by
the bidders and we have to select the best among them. This wastes a lots of efforts and
time of the employees . In order to overcome this we can use Artificial Intelligence . By
using AI we can inherit the knowledge about the tender to the machine and can select the
best bidded organisation.
We have two sides for this project
• Server side
 • Client side
At the Server side
We create a base table for the bidders with the opening bid which is decided by the
organization. The table includes clients details like id, name, bidded amount and so on.
At the Client side
The client enters the details which are required for the bid. The client cannot
know/view the details of other clients. The client finally can see whether his product or
contract is selected or not.

CONCLUSION
By using this system, we can automize the tender process which will reduce the
manual work/time for selecting the best biddded value through AI.

presented by
Korrapati Jahnavi(16IT122)
Gangeya Balachandra(16IT113)
Satya Sai(16IT136)