Reverse Auction Ultimate Guide
Wednesday, August 12th, 2009Also recognized as e-auction, e-sourcing, eRA or procurement auction, this is a procedure being utilized in procuring industrial business-to-business deals. It is a purposeful auction type, wherein the role of the seller and the buyer is reversed, to achieve the chief goal of driving purchase costs or prices downward. Unlike in a normal auction event otherwise called as forward auction, the buyers participate to get hold of services or goods, while in a reverse auction, the sellers are those who compete to acquire business. (more…)
