INTRO.TO INFO.SYSTEMS (LOOSELEAF)
INTRO.TO INFO.SYSTEMS (LOOSELEAF)
7th Edition
ISBN: 9781119362883
Author: Rainer
Publisher: WILEY
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Chapter 7, Problem 3DQ

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Difference between business-to-business forward auction and buyers’ bids for RFQs:

Business-to-Business forward auction Buyers’ bids for RFQs
Many potential buyers competitively bid for the product is known as forward auction. The sellers select the buyer based on the bid rate. A buyer sends the quotation which contains detailed information about the product. This quotation is also known as Request For Quotation (RFQ) and the process is called as reverse auction.
The highest bidder wins the auction...

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