As a buyer, you can cancel the auction at any point of time. Following are the steps to cancel an auction. As the name suggests, this action on any selected auction will let you delete the request.
Menu Path: Sourcing Event Management >> Auctions>> Action >> Cancel
1.From the list of Auctions, select a request and Click on the Actions Button and choose Cancel. As already seen in the Auctions section, the actions are displayed based on the Status of the request. For an auction in the Approved state, the Cancel option is made available.