Online reverse auctions are best suited for situations where:
A)specifications are clearly defined.
B)there is a competitive supply market with qualified suppliers willing to participate.
C)the buyer is prepared to switch suppliers if necessary.
D)specifications are clearly defined and there is a competitive supply market with qualified suppliers will to participate.
E)specifications are clearly defined,there is a competitive supply market with qualified suppliers willing to participate,and the buyer is prepared to switch suppliers if necessary.

Question

Quizplus · Accepted Answer

Online reverse auctions are best suited for situations where the specifications are clearly defined, there is a competitive supply market with qualified suppliers willing to participate, and the buyer is prepared to switch suppliers if necessary. Such auctions help in leveraging the competition and getting the best value for the money spent. Hence, all three conditions should be met for online reverse auctions to be successful.

Online Reverse Auctions Are Best Suited for Situations Where