Procurement outsourcing constitutes a growing dimension of corporate procurement strategy.
Reverse auctions as a tool have been around since the late 1990’s. They have been used in the Fortune 2000 to obtain more favorable pricing, to reduce cycle times, and to lower overall supply costs.
A growing number of large companies are forcing suppliers to bid through reverse auctions. Here’s how to survive one with your margins intact.
It is like an eBay of Washington, a well-appointed and well-connected online marketplace for lucrative government contracts.
A reverse auction is an auction where the roles of buyer and seller are reversed and the primary objective is to drive purchase prices downward (as opposed to the rising prices in a regular auction).
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