eAuctions can generally be characterized as one of two types: reverse and forward. In reverse eAuctions, bidders lower their offer price with every bid; in forward eAuctions bidders raise their offer price with every bid. Regardless of which type is used, the bid direction will remain constant throughout the event, so bids will always go down or go up as defined by the sponsor.
This whitepaper examines the role eAuctions play in a procurement practice and offers practical, actionable insight into how to succeed when running them, including:
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