US Navy takes aim at reverse auctions to improve procurement
12 Oct 2010
Source Procurement Leaders
The US Navy, US Department of the Interior, and US Marshals Service all have turned to reverse auctions in a bid to optimise their procurement functions. Although the Navy has used reverse auctions for several years, Both the US Marshals Service and the Department of the Interior have decided to use reverse auctions after recently completing pilots to determine the efficacy of using the online marketplace in support of organisational procurement.
The multi-year contracts will see service provider FedBid deliver reverse auction services through the its online marketplace to acquire commodity and simple services buys. "The Navy, Interior Department and U.S. Marshals Service have very different missions, but they share a common goal in acquisition management: to be prudent and effective stewards of the taxpayers' money," said Glenn Richardson, FedBid president.
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