Corpus ID: 13373434

Reverse Auctions : Benefits , Challenges , and Best Practices

  title={Reverse Auctions : Benefits , Challenges , and Best Practices},
  author={Gus Manoochehri},
  • Gus Manoochehri
  • Published 2010
  • Business
  • Taking advantage of new developments in technology, reverse auctions have significantly changed the way many companies conduct their purchasing. For buyers, the primary benefits include reduced purchase price, increased market efficiency, higher procurement process efficiency, and access to a larger supplier base. However, application of reverse auctions can bring major risks and challenges. It can lead to deterioration of strategic supplier relationships, loss of trust, erosion of supply chain… CONTINUE READING
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