To help suppliers (sellers) bid for the business of manufacturers (buyers) FreeMarkets Inc, a US provider of supply management solutions, created markets called competitive bidding events and provided the total package of services necessary for a reverse auction process. In one case, 35 vendors, from around the world, bid to supply a global manufacturer with printed circuit boards in 12 lots. The manufacturer planned to award the business to the lowest bidder. In the reverse auction, bidding sta...
BPIR Categories4.1.1 Identify market segments & target customers
4.2.1 Manage sales & sell products & services
4.1.4 Develop & implement marketing strategy
6.4.2 Implement systems for managing the service