An eAuction is a transaction between Buyer team (the Buyer) and bidders (suppliers in the business-to-business scenarios) in an electronic online marketplace. The eAuctions are of several types - 1) English Reverse eAuction 2) Dutch Reverse eAuction 3) Percentage based Reverse eAuction 4) Open or Fixed Price Reverse eAuction 5) Forward eAuction
eAuctions are now a proven cost-cutting tool compared to traditional pricing which usually takes place through successive negotiations.
eAuction, accessible at https://www.eSupplier.com, is an online platform designed for conducting electronic auctions, catering primarily to businesses and procurement professionals. It streamlines the procurement process by allowing users to host and participate in auctions for goods and services, potentially leading to cost savings and more competitive pricing. eAuction features a user-friendly interface that supports various auction formats, ensuring flexibility and adaptability to different procurement needs. It also offers tools for managing suppliers, monitoring bids in real-time, and generating reports for analysis. This platform is ideal for organizations seeking to optimize their purchasing strategies through efficient online bidding processes.