Defining the Concept: The Chartered Institute of Purchasing & Supply Offers Its Definition of What a Reverse Auction Is

Well, here is the definition of what constitutes a reverse auction from The Chartered Institute of Purchasing & Supply. CIPS defines it in the following manner:

Reverse auctions

The opposite of the usual kind of auction in which potential buyers  compete to bid the price up. In a reverse auction, which has come into  its own with the Internet, suppliers bid the price down.

David

From the Reverse Auction Research Center: http://reverseauctionresearch.blogspot.com/

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Top Ten Management on SWOT (Strengths, Weaknesses, Opportunities, and Threats ) Analysis: An Overview of a How to Develop a Plan for Organizational Success

This overview of SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis was prepared by Caroline Coats while a marketing major in the College of Business at Southeastern Louisiana University.

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David

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University of Alberta Research into Using Reverse Auctions to Better Allocate Funding for Wetlands Restoration

Image via Wikipedia

Here at the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), we want to update you on the latest academic investigations into the use of reverse auctions in all fields.

This is a very interesting piece of research, wherein a University of Alberta graduate student, Katherine Packman, has recently published her thesis on using reverse auctions in the public sector for wetlands restoration funding allocation decisions. 

You can read the abstract of her thesis ("Investigation of Reverse Auctions for Wetland Restoration in Manitoba") by clicking on the link below:

University of Alberta Libraries: Item 10048/1434

And, get your printer and a venti-sized cup of coffee to look at her full thesis by downloading the free .pdf from their library site.

David

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Union Uses "Reverse Auction" as Fighting Words

Image by Getty Images via @daylife

Hey, here at the RARC, we're following the latest news and trends in all uses of reverse auctions (and the terminology of it as well). Well, here's a new one out of Wales. The union for auto workers at TRW Automotive is using "reverse auctioning" in an accusatory (and pejorative) way - alleging that management is having its plants engage in a "reverse auction" on lowering costs to determine which one(s) to close. You can read the details here below:

BBC News - Union talks on Resolven car plant closure

From the article:

"Derek Vaughan, Labour MEP for Wales, and a former leader of Neath Port Talbot council, said he was shocked by management "tactics" at TRW.

He accused TRW of holding a "reverse auction" among its plants in Europe to find out which staff would take the biggest cuts."

Now, not saying we haven't seen this kind of action done before - but a unique twist to use the "reverse auction" label in such a way.

David

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Beware the $31.47 iPad

Now, as head of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), I've been picking-up the fact that there is a whole a lot of confusion out there as to what is - and is not - a "reverse auction." Philip Elmer-DeWitt, writing for Fortune, attacked the matter head-on in his article, "Beware the $31.47 iPad," which you can read below:

Beware the $31.47 iPad - Apple 2.0 - Fortune Tech

DeWitt echoes what I've been seeing out there on the Interweb - that there are many firms out there - like Dubli (and yes, mentioning them here will drive up my traffic and comment counts!) and other "auction" sites (call them "penny auctions" or "pay-per-bid" sites) that are not reverse auctions at all. I'll withhold my judgment on their legitimacy, but suffice it to say, as DeWitt put it: "If it looks too good to be true, that's because it is!"

David
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Top Ten Management on Resource-based Strategies of The Firm: An Overview of Efficient Investment of Resources

This overview of the concept of Resource-Based Strategies of the Firm was prepared by Thomas Casselberry while a Finance major in the College of Business at Southeastern Louisiana University.

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Top Ten Management on Strengths, Weaknesses, Threats, and Opportunities Analysis: An Overview on How to Capitalize on Your Strengths and Eliminate Your Weaknesses

This overview of the concept of SWOT (Strengths, Weaknesses, Threats, and Opportunities) Analysis was prepared by Chamekia Jefferson while a Business Management major in the College of Business at Southeastern Louisiana University.

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