Define the term reverse auction
Define the term reverse auction, and list three ways that procurement through a reverse auction would benefit an organization.
© BrainMass Inc. brainmass.com October 10, 2019, 4:54 am ad1c9bdddfhttps://brainmass.com/business/e-commerce/define-the-term-reverse-auction-483406
Solution Preview
Solution:
Reverse auction refers to an auction in which two or more sellers put their items up for bidding and complete for the price with which a buyer offers to accept. In other words, the buyer puts up a single price or range of prices and lets sellers bid for that price or price range. In reverse auction, the buyer may have an ...
$2.19