An online reverse auction may require significant upfront preparation and cost.

Question

Quizplus · Accepted Answer

An online reverse auction requires extensive procurement planning and setting up an e-procurement system, including software and hardware. This may incur significant upfront costs and require training for auction participants. Additionally, the reverse auction process requires a detailed specification of goods or services, which can be time-consuming and costly to develop.

An Online Reverse Auction May Require Significant Upfront Preparation and Cost