Reverse Auction

e-Sourcing is a key part of a global supply chain management strategy. As a result Ability Solutions applies both technology and knowledge of supply markets and purchasing to put the strategy into full effect. Substantial savings and other benefits can be realised through the adoption of best practices used in conjunction with appropriate sourcing strategies.

e-Sourcing, or reverse auction as it is more popularly known, is a type of auction in which the roles of buyers and sellers are reversed. In an ordinary auction buyers compete to obtain goods or services, and the price typically increases over time. In a reverse auction, sellers compete to obtain business, and prices typically decrease over time.

Reverse auction is a strategy used by many purchasing and supply management organizations for spend management, as part of a strategic sourcing and overall supply chain management activities.

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