Auctions and E-Procurement
Many people know what an regular auction is, such as the type you would find on ebay or other auction sites, where a buyer makes a bid on goods or services. But how many people know what a reverse auction is? Well, just like the name implies, it is the opposite of a regular auction. In reverse auctions, sellers bid or compete for business. It is mainly used as a tool for industrial business to business purchasing or business to consumer purchasing .
E-Procurement, as it is known, is business to business or business to consumer purchasing and sales of goods and services over the Internet and other networking and information systems. E-Procurement is done over the internet with the aid of software that includes special features for supplier management and for complex auctions. eBay also has a similar set of tools, for its sellers, which have similar features to that of E-Procurement software applications.
A major result of E-Procurement is that many services get outsourced, to the people who are willing to do them for the lowest prices, usually causing mass amounts of money to go to other countries. India outsourcing has been growing at a rapid pace, with no signs of slowing down and the same can be said for a number of other nations.
admin @ October 22, 2008