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 online reverse auction


Maximizing Potential Benefits in Reverse Auctions
Reverse auction (RA) has emerged as a strategic tool for consumer packaged goods companies pursuing cost efficiencies in their sourcing programs. This article

online reverse auction  is an auction held online in which vendors, instead of negotiating with the buyer or strategic sourcing specialist, compete amongst themselves for supply of the auctioned input material. The logic is quite simple: Vendors start off with a preset initial bid price, and reduce their bids by multiples of the bid decrement value. The vendor with the lowest price at the closure of the auction is generally the order taker. Prior to the auction going live, necessary parameters, such as quantity on auction, des

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Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

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