Are reverse auctions a win-win for both parties? The answer depends on who you ask, and as always, “the proof is in the pudding”. If done right, they can be a win-win for both buyers and suppliers. The online reverse auction is a cost-effective way in which a single buyer procures goods or services from multiple bidders using an online bidding platform. In this article, we will share a few tips to help demystify reverse auctions and maximize mutual benefits for both parties.
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This article is a proponent of NASPO Best Practices: Ethics and Accountability white paper and aims to augment research in proactive ethical practices through accountability, transparency, and conflict of interest. NASPO strives to emit leadership, excellence and, integrity while elevating the profession of public procurement through best practices. As stewards of taxpayers’ money, it is imperative that procurement staff not only choose the right path when dealing with an ethical dilemma but the ‘best’ path, in order to remain beyond reproach in the public eye.
Read more “Proactive Contract Management for the Modern Procurement Professional”