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Lifeworld International What is a Reverse Online Auction?
A Reverse Online Auction is a web-based portal for marketing goods and services from pre-qualified sellers through bidding on requests from pre-qualified buyers during a given time period. Reverse Online Auctions have been touted to lower procurement costs by as much as 20%, according to CIO Magazine, June 2003. To learn more about Reverse Online Auctions, read Lifeworld International White Paper.
Lifeworld International enhances the process by:
- pre-screening all auction participants for credibility
- ensuring all transactions are confidential and direct
- providing access to merchants that are focused on Life Sciences, Chemistry, Health Equipment, Pharmaceutics, and Computer Technology
- bringing buyers to bidding sellers
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