Reverse auction

(redirected from Esourcing)
Also found in: Encyclopedia.

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 ?
eSourcing will provide solid governance practices that promise efficiencies, and produce competitive services and products in the delivery of the event.
Ahead of the expiry of our existing eSourcing solution contract, we were keen to find a solution that would be comparable in features, but better designed and much easier to use.
The strategic decision to trial eSourcing was taken to drive cost and productivity initiatives.
Instead, they start by implementing one of several eSourcing point solutions.
The aim of the framework is to allow all public sector organizations, from central and local government to the NHS and emergency services, to easily engage with an eSourcing service provider without having to conduct their own lengthy tender process.
As part of his role leading the purchasing team, Dan instituted the use of eSourcing applications not only for indirect purchasing, but for goods and services across all company departments including merchandise - items for resale.
The Crown Commercial Service eSourcing suite will be unavailable to buyers and suppliers on 3 and 4 December 2015.
The eSourcing system will ensure a fair, transparent and accessible engagement with our vendor partners.
Supporting these evolving business requirements eSourcing and reverse auction application and eProcurement service leader, K2 Sourcing, announces a major upgrade to Lean Source.
Richard joined BravoSolution in 2005 to support a significant growth phase in the delivery of eSourcing solutions within the public and private sectors.
Many organisations have struggled to realise the full value of eSourcing because they simply don't have the skills in-house to best manage the planning, the process and the technology, said Daniel Ball, Director, Wax Digital.
Large companies have known this for some time, and most of the Fortune 1000 have been using eSourcing technology for several years.