Acceptance of E-Reverse Auction From the Buyer Perspective

Acceptance of E-Reverse Auction From the Buyer Perspective

Cigdem Altin Gumussoy, Bilal Gumussoy
Copyright: © 2018 |Pages: 9
DOI: 10.4018/978-1-5225-2255-3.ch046
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Background

The empirical research on e-reverse auction reveals that the main reason to use e-reverse auction is to maximize the savings in the procurement of products or services. One of the popular service provider, Ariba StartSourcing indicates that they are delivering “value for organizations for all sizes and industries by- sourcing $340 billion spend in annual across 500 categories, saving $30 billion annually and cutting process and cycle times by 50-70 percent” (Ariba StartSourcing Solution, 2015).

Key Terms in this Chapter

E-procurement: Purchase of a product or a service over internet.

Negotiation: It is a discussion about an issue to reach a consensus between the parties.

Acceptance: A decision to use a particular IT/IS system.

E-Reverse Auction: It is a type of e-auction, conducted in real time over internet between buyer and suppliers in order to determine the supplier and the price of a product/service.

Bidding: It is an offer of a supplier during e-reverse auction that the supplier is willing to sell.

Request for Quotation: Includes the specifications and some critical contract terms like payment terms etc. of a product or a service to be auctioned, and is prepared by the buyer in order to make an invitation to the suppliers.

Reserve Prices: It is the starting price of an e-reverse auction determined by a buyer with the examination of historical prices of a product/service.

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