Launching a Reverse Auction
Regardless of its complexity, each auction goes through 4 phases:
- Creation – the process of configuring the event to be published and made available for the identified suppliers
- Publishing – inviting the suppliers to bid
- Monitoring – closely surveying the event, ensuring supplier attendance, quoting, and deadline adherence
- Closing- centralizing offers, distribution to interested parties, and evaluation of the most advantageous offer.
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