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Reverse auction
(redirected from E-sourcing)

    Also found in: Encyclopedia, Wikipedia 0.01 sec.
Reverse auction
An auction where the role of buyer and seller is reversed. The buyer advertises a need and sellers compete to provide the product or service. Generally the seller with the lowest bid wins the auction.
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Jack Mulloy, President of Nitor Partners said, "Zycus was a natural choice as Zycus offers best-of-breed solutions for key spend management processes, including: Data Enrichment, Spend Visibility, Sourcing Planning, and e-Sourcing execution.
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This savings "leakage" has made finance organizations increasingly skeptical of savings that are negotiated through traditional e-Sourcing processes.
Verticalnet Upgrades XE Supply Management Suite by Business Wire
 
 
 
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