Reverse Auction Factory 1.4.1
File ID: 46049
Reverse Auction Factory 1.4.1
File Size: 9.8 KB
|User Rating:|| (2 ratings)|
Reverse Auction Factory 1.4.1 Description
Description: * allowing the Buyer to choose the best deal
* obtaining Prices for Services or Products
* Rating System
* Commissions Plugin, Pay-per-Contact Plugin, Pay-per-Bid Plugin
* including file attachement and images
* support for various types of auctions like public, private, choose winner
* eMail Notifications on major events
* Watchlist for sellers on Categories and Auctions
* pay for listing or featured Auctions
* CB Integration
* and many more...
A reverse auction (also called procurement auction, e-auction, sourcing event, e-sourcing or eRA) is a tool used in industrial business-to-business procurement. It is a type of auction in which the role of the buyer and seller are reversed, with the primary objective to drive purchase prices downward. In a reverse auction, sellers compete to obtain business.
Reverse auction is a tool used by many purchasing and supply management organizations for spend management, as part of strategic sourcing and overall supply management activities.
In a reverse auction, a buyer contracts with a market maker to help make the necessary preparations to conduct the reverse auction. This includes: finding new suppliers, training new and incumbent suppliers, organizing the auction, managing the auction event, and providing auction data to buyers to facilitate decision making.
The market maker, on behalf of the buyer, issues a request for quotation (RFQ) to purchase a particular item or group of items (called a "lot"). At the designated day and time, several suppliers, typically 5-20, log on to the auction site and will input several quotes over a 30-90 minute period. These quotes reflect the prices at which they are willing to supply the requested good or service.
Quoting performed in real-time via the Internet results in dynamic bidding. This helps achieve rapid downward price pressure that is not normally attainable using traditional static 3-quote paper-based bidding processes.
The prices that buyers obtain in the reverse auction reflect the narrow market which it created at the moment in time when the auction is held. Thus, it is possible that better value - i.e. lower prices, as well as better quality, delivery performance, technical capabilities, etc. - could be obtained from suppliers not engaged in the bidding or by other means such as collaborative cost management and joint process improvement.
The buyer may award contracts to the supplier who bid the lowest price. Or, a buyer could award contracts to suppliers who bid higher prices depending upon the buyer's specific needs with regards to quality, lead-time, capacity, or other value-adding capabilities. However, buyers frequently award contracts to incumbent (i.e. current) suppliers, even if prices are higher than the lowest bids, because the switching costs to move work to a new supplier are higher than the potential savings that can be realized.
Related: Joomla, Auction, reverse auction, thefactory
File Size: 9.8 KB
|More Similar Code|
This is for sites that require a reverse auction where each bid decreases. It features unlimited categories and subcategories, main page and category featured listings, closing email, feedback, seller edit/delete, proxy bidding, auto relist of unsold items, picture uploading and more.
ILance Reverse Auction provides the industry's most secure and robust reverse auction platform available on today's software market. ILance provides superb software and complete solutions to small, medium and enterprise markets.
Freelancer Clone is undoubtedly the best ever reverse auction script available online. Just install the product to launch your website within seconds. Try this awesome product now. Main Features:- No Callback, Ajax based interface, Post projects,...
AJ Penny Auction - Professional PHP penny auction script to make your own penny auction site. Our penny auction software is offering various types like reverse auction,beginner auction, free bid auction and peak auction. Start your penny auction...
Auction Factory supports all common auction types including also Proxy Bidding. Auctions are supporting the usual Bids and BuyItNow features. Also they can be set as Private (bids are hidden to the public) or Public (bids are showed to the...
Taking and expanding the reverse auction website concept, this website offers registered users the chance to bid on auctions and pay a fraction of the retail price. The website owner has the ability to control all aspects of the website, from...
AJ Auction Pro is the best Auction Portal script software available in the Universe. Being a PHP /MYSQL Script providing complete online auction solutions, it has now expanded to offer services such as Merchant Solutions, Packaged Software and...
iTechBids v9.07.3 has hundreds of features & robust security framework making it the best auction solution.
It comes as standard, reverse, live, penny, lowest unique & clone of popular portals like Swoopo, BidBoogie & MadBid.
iTechBids v9.07.3 is released!Hundreds of new auction features and robust security framework makes it the most reliable auction solution in the market.
It now comes in several versions like standard auction, reverse auction, live auction,...
Are you looking for the ideal software solution so you can run your own online auction web-site? If so, then you have come to the right place.
- Feature Rich User End.
- Full Admin Area.
- "Make An...
|User Review for Reverse Auction Factory