What is Reverse Auction
Reverse auction
is a type of auction in which suppliers are involved in a dynamic &
competitive bidding process amongst themselves to win the business. In this
process, the price typically reduces over the period of time. Since suppliers
are considered as most knowledgeable about the supply market competitiveness,
hence competing amongst each other unleashes the maximum potential of savings
for a product.
In today's
world, reverse auction is recognized as one of the most effective means of
awarding business and has been adopted by majority of blue-chip organizations
across globe
General Buyers - Consumer Benefits
* With
General Buyers, now you do not need to compare prices of Electronic
products
from shop to shop. You get it at the cheapest of all.
* Registration free of cost
* Posting of Enquiry free of cost
* Immediate circulation of
Inquiries to a huge supplier database in one go
* All suppliers are assessed and
verified before they qualify to become a valid
supplier for a category
* Price reduces significantly as
the reverse auction event progresses
* You have the choice to buy from
either a local supplier or an outstation supplier
* Cash On Delivery for all
products
* Quick and effective turnaround
time
* Your feedback about a supplier
shall be seriously taken into consideration
In short- buy
products of your choice at the cheapest market price without any hidden cost
General Buyers - Supplier Benefits
* Registration free of cost
* Participation in reverse
auction bidding process is free of cost
* Suppliers receive all inquiries
for the categories they have registered
* All suppliers are treated
equally
* Internet based retailers are
also allowed to register and participate
* Transparent process : You bid
low - You win business
* No hassle of payments to
General Buyers. You pay us only when a purchase
order is issued to you.
* Excellent venture for start up
retailers who are striving for demand
In short- overwhelming
business leads at no extra cost. If you are competitive, you win business
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