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An Auction is a process of buying and sellinggoods or services by offering them up for bid,taking bids, and then selling the item to thehighest bidder.
There can be several rules or conditionsclearly defined by an auctioneer beforestarting any auction.
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Participants in an auction may not know theidentities of each other and can alsoparticipant through various means includingtelephone and internet. The seller usually
pays a commission to the auctioneer orauction company based as a % of the finalsale price.
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PRIMARY TYPES English auction
Dutch auction
Sealed first price auction
Vickrey auction
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ALL PAY AUCTION BUY OUT AUCTION
COMBINATIONAL AUCTION
JAPANESE AUCTION RESERVE AUCTION
NO RESERVE AUCTION
SLIENT AUCTION
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In sale of collectibles. The wine auction business, wheere serious
collectors can gain access to rare bottles andmature images, not typically availablethrough retail chains.
Spectrum auctions, in which companiespurchase license to use proportion of the
electromagnetic spectrum forcommunication.
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Environmental Auction, in which companiesbid for license to avoid being required todecrease the environmental factors.
In commodities Auction, like fish whole saleauctions.
Electricity auctions, in which large scalegenerators and consumers of electricity bid
on generating contracts.
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No where perhaps is the impact of the webmore evident that in case of auctions. By nowevery one has heard ofe-bay, the pioneer inperson to person online trading. Founded in
1995 by Pierre Omidyar, the company nowprovides millions of auctions and hundreds ofthousand of new items eberyday from whichbidder may choose.
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CONCEPT:An organization performs activities to do itsbusiness. These activities define the kind ofbusiness you are in..
BASIS:It look at the activities required to producethe cost of the product or service. Theactivities consume resources and the cost of
these can be calculated. The amount ofactivity required for each product and serviceis determined.
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The activity is the work that is done. The resource is what the activity uses to do
the work.
RESOURCES COST THE MONEY The cost of the activity depends on the
quantity of resources used to accomplish theactivity.
The cost driver for an activity is the factorthat influences the amount of the resourcesthat will be consumed by this activity.
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The activity driver measures how much of theactivity is used by the cost object.
The cost object is whatever it is you wish tocost.
Note: IF THERE WERE NO ACTIVITIES, NO RESOURCES WOULDBE CONSUMED. IT IS THE ACTIVITIES THAT YOU DO THATDEFINE YOUR BUSINESS
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Understand TRUE profitability of your customers,products, or services
Quantify the cost of non-value added activitiessuch as errors and reworks
Identify opportunities to reduce costs and/orincrease efficiency
Obtain actionable information to negotiate priceincreases for unprofitable clients
Understand why profitability may be mediocredespite good strategic fundamentals
Stratify overhead costs so they can be managedmore effectively
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Resources
Activities
Cost Objects
Resource Drivers
Cost Drivers
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Today, companies are using ABC to make better-informed decisions about pricing, what type ofcustomers to pursue, and what products orservices to offer.
Determines the TRUE COST & PROFITABILITY ofcustomers, products, and or services.
It measures the costs and profits of anorganization based on the activities performedwithin that organization.
With ABC you can drill into profitability andperformance by almost any factor you can thinkof.
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Mohd. Arshad ansari Tushar Sharma
Ankur dubey
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