|
S.No |
RA Strategies |
Conditions in which they are
used |
| |
|
|
|
1 |
Sealed Bid |
In this case one estimated price is taken from all
the participating parties. Sealed bid is normally
followed by one or more of the other RA strategy. |
|
2 |
Reverse auction |
The standard RA is generally suited for those
items where it possible to fix a fair estimate of
the prevailing market price. |
|
3 |
Rank based reverse auction |
hisThis is applied when the Sealed bid value quoted
by bidders have significant difference between
them.
•
The rank based bidding discovers the fair market
price and helps to counter cartelization.
|
|
4 |
Price match |
ThiThis Auction strategy is used when the client want
to split order quantity in more than one supplier.
•
All interested parties have to match L1 rate. |
|
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|
What is Reverse Auction in Purchase ?
Benefits of Reverse Auction |
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