Reverse e-auctions are replacing traditional competitive bidding for sourcing decisions. This concept has been designed to help suppliers compete dynamically in real-time for a buyer's business. It also describes a range of benefits and drawbacks for buying organisations.
An e-Auction, also known as a 'reverse auction' is an electronic auction where suppliers bid online against each other for contracts against a published specification (Improvement and Development Agency).
e-Auctions Description *
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e-Auctions References (4 of up to 20) *
- BuyIT & CIPS (2004) e-Sourcing. A BuyIT e-Procurement best practice guideline.
- CIPS: Introduction to e-Auctions.
- Elmaghraby, W. (2007) Auctions within e-Sourcing events. Production and Operations Management, Vol.16(4), pp.409-422.
- Engelbrecht-Wiggans, R. and Katok, E. (2006) E-Sourcing in procurement: Theory and behaviour in reverse auctions with non-competitive contracts. Management Science, Vol. 52 (4), pp.581-596.
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