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 ?
Both an eSourcing and reverse auction application developer and a procurement services provider, K2 Sourcing is uniquely positioned and structured to provide superior support and unsurpassed value.
The auctions typically last 40 minutes to several hours," says David Wyld, founder of the Reverse Auction Research Center.
The partnership will enable AFS Corporate Members to utilize the Flagship EMEX Reverse Auction Platform, which generates highly competitive energy rates in real time from dozens of national retail energy suppliers.
Leon County (County) is seeking the services of a qualified vendor to prepare and submit a proposal for the provision of Reverse Auction Services to the County.
The reverse auction platform takes this concept to the next level by offering a more robust interaction for those end users seeking an interactive buying experience,” says Klaudet Ristovski, Vice President of Strategy for MME.
Buyers must also be aware of the switching costs associated with changing suppliers through an online reverse auction.
The reverse auction is ideal for customers hunting a bargain for that spontaneous getaway or weekend drive.
Grabaseat Reverse Auctions began today with the first of 50 quick-fire actions beginning at 09:00.
Further to the announcement of the Reverse Auction Tender Strike Price for each of the Company's share classes on 2 February 2011, settlement of the Reverse Auction Tender Offer consideration will be on 4 March 2011.
We've been vocal in our opposition to the reverse auction concept, and have proposed less risky alternatives to control USF growth.
Our analysis concluded that the reverse auction is a wise and strategic solution to pursue for electricity procurement.
For the purpose of this research, a reverse auction is defined as a buyer-initiated bidding event utilizing electronic software that permits price or rank visibility to sellers.