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    Reverse Auctioning: By: Rajat Rathore (91042) Pragati Saraf (91040)

    Uploaded by

    Madhusudan Partani
    This document discusses reverse auctions, which allow buyers to list items they want to purchase and have sellers bid to provide the best price. It provides a brief history of how reverse auctions started with sites like Priceline and have expanded globally. The process involves buyers posting a purchase request, selecting an auction timeframe, and having anonymous sellers lower their bids until the auction ends. While lowest price is considered, other factors like quality, reputation, and terms can influence which seller wins. The goals are to maximize purchasing power, negotiation power, and find alternative suppliers in a fast, paperless online process.

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    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd

    Reverse Auctioning: By: Rajat Rathore (91042) Pragati Saraf (91040)

    Uploaded by

    Madhusudan Partani
    155 views13 pages
    This document discusses reverse auctions, which allow buyers to list items they want to purchase and have sellers bid to provide the best price. It provides a brief history of how reverse auctions started with sites like Priceline and have expanded globally. The process involves buyers posting a purchase request, selecting an auction timeframe, and having anonymous sellers lower their bids until the auction ends. While lowest price is considered, other factors like quality, reputation, and terms can influence which seller wins. The goals are to maximize purchasing power, negotiation power, and find alternative suppliers in a fast, paperless online process.

    Original Description:

    Presented by Rajat rathore and Pragati Saraf of FMG-18A, FORE School of Management

    Original Title

    Reverse Auction

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    © Attribution Non-Commercial (BY-NC)

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    This document discusses reverse auctions, which allow buyers to list items they want to purchase and have sellers bid to provide the best price. It provides a brief history of how reverse auctions started with sites like Priceline and have expanded globally. The process involves buyers posting a purchase request, selecting an auction timeframe, and having anonymous sellers lower their bids until the auction ends. While lowest price is considered, other factors like quality, reputation, and terms can influence which seller wins. The goals are to maximize purchasing power, negotiation power, and find alternative suppliers in a fast, paperless online process.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    155 views13 pages

    Reverse Auctioning: By: Rajat Rathore (91042) Pragati Saraf (91040)

    Uploaded by

    Madhusudan Partani
    This document discusses reverse auctions, which allow buyers to list items they want to purchase and have sellers bid to provide the best price. It provides a brief history of how reverse auctions started with sites like Priceline and have expanded globally. The process involves buyers posting a purchase request, selecting an auction timeframe, and having anonymous sellers lower their bids until the auction ends. While lowest price is considered, other factors like quality, reputation, and terms can influence which seller wins. The goals are to maximize purchasing power, negotiation power, and find alternative suppliers in a fast, paperless online process.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 13

    REVERSE AUCTIONING

    By:
    Rajat Rathore(91042)
    Pragati Saraf(91040)
    Reverse Auction

    Suppliers

    Buyer
    Defining the concept

    “Reverse” Auctioning….
    An acquisition technique which
    allows prospective buyers to
    list any item(s) they wish to
    buy, and the sellers bid to
    provide the best price
    Short History

    Reverse auction buzz started with the success of


    www.priceline.com. The success story continued
    with numerous vortals doing huge business in
    their area of specialization.
    The first Indian vortal on tea www.teauction.com
    had revolutionized the contemporary business
    practice of Tea Auctions.
    Reverse Auction

    • Suppliers pre-screened and approved.


    • Suppliers are issued passwords.

    Only suppliers with passwords can participate in the auction

    • Offerors are anonymous to all participants see a bidder number,


    not the competition’s names.
    • Evaluation criterion can be price or best value.
    • Interested Suppliers apply online and get approval
    Reverse Auction Process

    •Company Posts a Purchase Request


    •Company Selects Time Frame For Auction
    •Sellers Bid On Purchase Request – New Bids Going Lower
    and Lower
    •Auction Ends
    •Company Contacts Seller to Purchase Product or Service
     
    Does the lowest bidder always win the bid?

    No, All purchases are up to the sole discretion of the


    Company. Factors which influence Companys may
    include but are not limited to: 
    Seller’s Capability

    Seller’s Reputation Seller’s Quality

    Seller’s Location Seller’s Delivery Date

    Seller’s Price Seller’s Terms


    Offerors Competing can be anywhere in the world…
    just need to have Internet access
    Bidder 1
    Bidder 2
    Bidder 6

    Bidder 3

    Bidder 5 Bidder 4 Bidder 7


    Purpose of this mechanism

     To ease the transition to doing your business over


    the Internet.
     To maximize the purchasing power of the company.
     To maximize the negotiating power of the company.
     To find alternative sources of supply.
    Intimation about an action
    The company will send complete
    information about its adoption of internet
    as buying mechanism to world’s leading
    exporters.
    The approved sellers will be intimated
    through email (once data base is set up).
    Cost Savings

    •The admistrative cost saving of


    finding new sources of supply
    •The cost saving in form of fast order
    placing
    •Lower costs through competitive and
    cooperative bids
    Results

    • 100% Paperless Process

    •Auction and issuance of Purchase Order


    completed in less than 1 hour

    •Virtual competition

    •Best Price/Value For Buyer


    THANK YOU

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