- Written by Randy
The state of Mississippi has legislated that that Government bodies in the state of Mississippi make use of Reverse Auction and Electronic Bidding for purchases exceeding certain dollar amounts. (see house bills for amounts)To help City, County and Local Governments with this, Land Tech Web Designs and Mississippi Web Designs has developed a reverse auction and Electronic Bidding Solution.
For more information please contract our sales team at 601-831-1167 or email email@example.com
What is a Reverse auction. ... In an ordinary auction (also known as a 'forward auction'), buyers compete to obtain goods or services by offering increasingly higher prices. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.In a reverse auction (also called procurement auction, e-auction, sourcing event, e-sourcing) is a tool used in business-to-business procurement. In this process, the role of the buyer and seller is reversed, with the primary objective to compete purchase prices downwards. In an ordinary auction (also known as a forward auction), buyers compete to obtain a product or service. In a reverse auction, sellers compete to obtain business.
Some of the features of our solution.
- Run auctions in reverse order. Use it to post work/orders and get it done in least price.
- Upload bulk number of auctions instantly to save your time.
- Arrange your auctions in different categories. Tag your auctions and search those tags for specific auctions.
- Professional Designed Layout
- Stylish Image Slider to showcase your items
- Separate Sections for Description, Comments, Bid History and Messaging
- Countdown Timer
- InBuilt Share icons for Facebook and Twitter
- Search by Keyword
- Search by price
- Category Facets
- Multiple Sorting Options
- Grid and List View
A Reverse Auction is an event usually used as the last leg of sourcing and tendering to obtain the best price by encouraging competitionamong bidders on price. It is hosted by a single buyer and features two or more suppliers competing for business. It is called reverse because during the auction, the price can only come down.
Electronic BiddingWith Land Tech solution for electronic bidding, your customers can quickly go on line and submit a bid which is sealed. At the end of the electronic bidding process, you will receive a document detailing every bid received including the details of the bid.Call today to get your office compliant with Mississippi's new law requiring electronic bidding and Reverse Auctions
Advantages of Electronic Bidding
- elimination of the need to travel to submit a bid,
- continuous bid submittal 24/7,
- easy access to bid information,
- faster processing of bid documents,
- time savings in bid preparation,
- ability to make last minute changes,
- reduction of calculation errors, and
- overall streamlining of bid process.