Reverse auction

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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.
References in periodicals archive ?
According to Gartner[TM], by 2019, expanding adoption of e-invoicing, e-sourcing and supplier information management technology will result in a tenfold increase in digital B2B interactions.
Another interesting result from APQC's data involves how organizations using e-procurement or e-sourcing distribute the FTEs within their procurement functions.
The takeover, which is based on a commercial relationship between the two companies, enables Xchanging to expand its offering into e-Sourcing.
As effective as e-sourcing can be, however, it's simply not the right approach for every buy.
It features a rapid-ROI implementation process; ease in sharing spend analytics data with sourcing data from the CombineNet ASAP e-sourcing product; it supports all types of currencies, languages and data classifications/taxonomies; and provides flexibility for customers to determine and apply appropriately tailored business rules, standard and customised data taxonomies such as UNSPSC - United Nations Standard Products and Services Code.
For example, the Kentucky Council of Area Development Districts recently formed a partnership with an e-sourcing company to create the Area Development District Online Procurement Services (ADD-OPS).
LTP Trade plc, a global provider of e-sourcing solutions for companies seeking to source funding/risk cover for trade finance, has launched its new trade finance e-sourcing application, LTP Trade Edge.
Simply stated, e-sourcing entails the delivery of standardized processes, applications and infrastructure as a service over the network, with both business and IT functionality.
com), a strategic e-sourcing solutions firm that offers software and other services to global 2000 companies.
Worldwide Computer Products News-26 April 2001-Moai combines software and services into end-to-end e-sourcing offering (C)1995-2001 M2 COMMUNICATIONS LTD http://www.