| Reverse auctions are essential tools for effective strategic sourcing of a company's supplies. They harness the power of open competition. Good sourcing software enables companies to build on the power of reverse auctions to augment their procurement process and optimize the value they receive from suppliers.; This project demonstrates an e-sourcing platform that implements reverse auctions. The sourcing platform actively promotes competition among suppliers and provides an intuitive interface that puts the negotiating power into the hands of buyers. This project implements the following processes: Request For Quote, Bidding, and Contract Negotiation. It uses a flexible XML descriptor structure for creating new product categories and characteristics, allowing the platform to describe any product in detail. |
