Reverse Auctions: Guidance Is Needed to Maximize Competition and Achieve Cost Savings

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By Michele Mackin (au)
Year: 2013
Pages: 45
Binding Paperback
ISBN 978-1-4578-5236-7

Product Code: 1457852365

Description

Reverse auctions are one tool used by federal agencies to increase competition and reduce the cost of certain items. Reverse auctions differ from traditional auctions in that sellers compete against one another to provide the lowest price or highest-value offer to a buyer. This report reviewed issues related to agenciesäó» use of reverse auctions. It examines (1) what agencies are buying through reverse auctions and trends in their use; (2) how agencies are conducting reverse auctions; and (3) the extent to which the potential benefits of reverse auctions are being maximized. The report found that found that the potential benefits of reverse auctions -- competition and savings -- had not been maximized by the agencies. Tables and figures. This is a print on demand report.

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