Purchasing

4 Ways Reverse Auctions Can Revolutionize the Procurement Process

Reverse auctions can revolutionize your procurement process

The premise of reverse auctions is simple—buyers who want suppliers for a specific product or service ask suppliers to submit bids online. To win the bid, suppliers must then compete with the lowest cost, over a defined period of time. This new process has naturally attracted the attention of procurement teams. And those teams have …

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