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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
References in periodicals archive ?
Dubai: Expo 2020 Dubai has launched an eSourcing portal and has held a workshop with 200 designers and university students ahead of the Expo 2020 Logo Design Competition closing in a week, according to a statement on Wednesday.
Dubai - Expo 2020 Dubai has announced the launch of the Expo 2020 eSourcing portal, an online procurement system that will link all Expo-related procurement operations and enable rapid deployment of tender opportunities to the global business company.
Zycus announced today that Emirates NBD will adopt its eSourcing and Contract Management Solution.
Starting with a pilot project to help reduce its IT hardware spend, one of SunGard's biggest spend categories, Wax Digital's eSourcing consultants helped SunGard use its on demand web3 eSourcing platform to generate savings and optimise supplier contracts without compromising on service quality.
Today, these eSourcing technologies are easier to use and more adaptable to numerous sourcing and business strategies.
Forrester Report places Tejari in 8th spot in the world among global eSourcing vendors
Coming to the rescue are eSourcing services and tools.
Summary: DUBAI - Etihad Airways will implement the latest in eSourcing technology and best practice to its procurement and supply departments.
Companies often embrace eSourcing or eProcurement technology expecting substantial cost reductions and a more streamlined process.
Summary: DUBAI -- DP World, global marine terminal operator, on Sunday announced that it will be deploying BravoSolution's eSourcing platform globally over the next 24-36 months to help reduce operating costs and improve procurement operations.