information on reverse auction

Indiamarkets Online Auctions & Reverse Auctions combined brings together a proven auction engine and the market making abilities of Indiamarkets to enable your business to reap the benefits of efficient Price Discovery while Buying and Selling

-Indiamarkets online auctions enables you to sell your products, dispose off surplus inventory or used machinery in a cost effective manner.

-Indiamarkets online reverse auctions enable your business to effect cost savings in sourcing the requirements thereby bringing about efficiencies along the Supply Chain.
Salient Features on Indiamarkets Online Auction/ Reverse Auction Services
-Auction/Reverse auction design as per customers requirement.
-Applicability in both closed vendor networks and where new vendors have been pre-qualified to participate.
-Elaborate bidder training for familiarization with online auction module including assistance during conduct of auction.
-Market making services of Indiamarkets leveraging on the online marketplace and the on-ground infrastructure to identify new bidders based on client-defined norms.
-Neutral Operator Status ensures market integrity thereby enhancing comfort of participants in these auctions/reverse auctions

Benefits of Online Auctions to Vendors
-An excellent avenue for test pricing of new products.
-Useful in clearing excess inventory & used machinery in a cost effective manner.
-Enables savings on distributor margins.

Benefits of Online Auctions to Buyers
-Enhances reach leading to cost effective procurement.
-An avenue to locate critical requirements that are otherwise not easily available.

Applicability of Online Auctions
- Low value, low volume goods.
-Liquidating excess inventory, used or end of line goods.
-Complementing existing channels for goods and services.
-Capital Goods sales.
Benefits of Online Reverse Auctions to Vendors
-Ensures Savings in marketing costs / distributor margins.
-Allows vendors to access hitherto inaccessible buyers.
-Facilitates flexibility in pricing decision.

Benefits of Online Reverse Auction to Buyers
-Helps achieve significant reductions in procurement costs on account of Dynamic Bidding.
-Access to a large number of vendors.
-Dynamic bidding process.
-A tool for efficient price discovery complementing the direct negotiation process.

Applicability of Online Reverse Auctions
-High value, large volume goods
-Capital goods.
-Direct Materials / MRO items.
-Periodical rate contracts.