ELECTRONIC REVERSE AUCTION AS AN EFFECTIVE MEAN OF PURCHASING PROCESS IMPROVEMENT

Mario Pecek
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Mario Pecek: Zagrebacki holding d.o.o.

Economic Thought and Practice, 2008, vol. 17, issue 2, 215-236

Abstract: Electronic reverse auctions where sellers submit their offers are effective means for cost savings. Such auctions today represent leading trend in purchasing business in the world. They have notable influence on both buyers and their suppliers. Electronic reverse auctions facilitate and accelerate selection of right supplier, enlarge competition openness and enable access of larger amount of sellers and thus significantly decrease purchasing prices, whilst suppliers compel on finding of new and more effective ways for survival on the market. The aim of this paper is to present the importance of application of electronic reverse auctions and multiple benefits they bring comparing with traditional procurement process, most of all manifesting through significant financial savings, shortening of purchasing process and completely open and transparent purchasing procedure.

Keywords: Electronic reverse auctions; purchasing process; cost savings; suppliers; buyers (search for similar items in EconPapers)
JEL-codes: L86 (search for similar items in EconPapers)
Date: 2008
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