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Results for “Reverse auction”
Reverse Auction
A reverse auction is a buyer-led sourcing model where qualified suppliers compete by improving commercial offers, often reducing price or total cost while procurement retains governance over award criteria and supplier selection.
Open destinationBid decrement
The minimum amount by which a supplier must improve a price in a reverse auction, subject to event rules and current bid position.
Open destinationProcurement auction
A competitive sourcing event, commonly a reverse auction, used to obtain improved supplier pricing or commercial terms for a defined requirement.
Open destinationIndicative bid
A non-final commercial submission used for market testing, qualification, negotiation, or progression to a later competitive stage.
Open destinationJoint award
An award structure in which business is allocated across more than one supplier or winner according to quantity, lot, score, risk, or capacity.
Open destinationKnockout criterion
A mandatory qualification condition that disqualifies a participant or bid when a required technical, legal, financial, or compliance threshold is not met.
Open destinationLanding price
The total effective cost after adding freight, duties, taxes, insurance, handling, and other relevant commercial components to the quoted price.
Open destinationMinimum order quantity
The smallest quantity a supplier or seller is willing or permitted to transact under the event or marketplace rules.
Open destinationQuantity bidding
A bidding model in which participants submit or accept prices for specific quantities, capacities, tiers, or allocation bands.
Open destinationRanked auction
An auction where participants can see their position or rank without necessarily seeing competitors' identities or bid values.
Open destinationSplit award
An outcome where demand, quantity, lots, or commercial value is allocated across multiple successful suppliers or bidders.
Open destinationTender
A structured process for inviting, receiving, evaluating, and awarding supplier or buyer submissions under defined commercial and governance rules.
Open destinationWeighted evaluation
An award method combining price with technical, quality, delivery, risk, sustainability, or other scored criteria.
Open destination