RaProcure: Ensuring Fair Procurement with Reverse E-Auction
Reverse E-Auction is a procurement term that functions opposite to the regular auction. It allows manufacturing units to set up a starting price and vendors to bid with their designated
rate to find the optimal price for the buyer.
RaProcure has an easy-to-use e-auction portal, enabling manufacturers to set up an auction quickly. Conversely, vendors can participate in such biddings to secure their customers.
RaProcure: Reverse E-Auction Helps Manufacturing Units to Get Better Pricing
RaProcure’s Reverse E-Auction is a game-changing innovation that reduces cost and increases transparency. Manufacturing units can pre-set the starting price of a product and list it for auction. This speeds up the procurement process and establishes fair competition
among each vendor.
Cost Efficiency
Cost Efficiency increases as this drives down the initial price of an item and creates a competitive bidding environment. Vendors compete to offer the lowest possible price, eventually providing the best price to the manufactuers.
Transparency
It ensures that the process is transparent. Vendors can view the offers provided by others in real time. This mitigates the chance of favoritism and warrants a fair and open marketplace.
Speed and Convenience
This is faster than traditional procurement methods because the vendors can bid within a specific time-frame. They save time by eliminating the need to negotiate manually with each other.
Conclusion
Raprocure’s Reverse E-Auction reduces the operational cost of the manufacturing units and provides them with the most suitable quotation. Vendors can bid live against each other to acquire buyers and increase sales.
Furthermore, it streamlines procurement by eliminating the need to contact every vendor and negotiate with them, eventually saving time for both manufacturers and vendors.
