Suppliers submit progressively lower bids until a winner is determined, with each bidder aware of the current lowest bid.
The auction starts with a high price, gradually decreasing until a supplier accepts the current price, securing the contract.
Similar to English auctions, but suppliers can only decrease their bid by a predetermined amount or percentage.
Combines reverse auction with traditional negotiation or other procurement methods.
Suppliers submit progressively lower bids until a winner is determined, with each bidder aware of the current lowest bid.
The auction starts with a high price, gradually decreasing until a supplier accepts the current price, securing the contract.
Similar to English auctions, but suppliers can only decrease their bid by a predetermined amount or percentage.
Combines reverse auction with traditional negotiation or other procurement methods.
Overall, ProQsmart has significantly improved our procurement efficiency. We’ve experienced reduced lead times, better cost control, and increased transparency. If you’re looking for a customizable platform that empowers your team and simplifies CAPEX procurement, look no further than ProQsmart.
We’ve experienced reduced lead times, better cost control, and increased transparency.
Megha Vijay
Head of Projects & Cost Management
Overall, ProQsmart has significantly improved our procurement efficiency. We’ve experienced reduced lead times, better cost control, and increased transparency. If you’re looking for a customizable platform that empowers your team and simplifies CAPEX procurement, look no further than ProQsmart.
We’ve experienced reduced lead times, better cost control, and increased transparency.
Megha Vijay
Head of Projects & Cost Management
Procurement teams today face persistent challenges that hinder efficiency and reliability in sourcing processes. Manual workflows—such as repetitive data entry,
Unifying procurement data for enhanced sourcing analytics empowers teams to overcome fragmented systems and make smarter decisions. Centralized e-sourcing data
In the hospitality industry, supplier contract misalignments pose significant barriers to procurement efficiency, project timelines, and profitability. For instance, ambiguous
In procurement across industries such as construction, manufacturing, hospitality, and interior fit-out, supplier overload in Request for Information (RFI), Request
Hospitality procurement teams aim to deliver seamless hotel renovations, restaurant expansions, and multi-property projects on time and within budget. However,
Specification misalignment in manufacturing RFPs subtly disrupts procurement, triggering widespread inefficiencies across production ecosystems. When RFP requirements lack clarity—such as
