When a company puts its purchasing requests online and invites suppliers to bid for the business, this is known as:
A) periodic orders.
B) reverse auction.
C) carpet contracting.
D) blanket contracting.
E) vendor managed partnership.

Question

Quizplus · Accepted Answer

When a company puts its purchasing requests online and invites suppliers to bid for the business, it is known as a reverse auction. This process allows the company to select the supplier with the lowest bid, resulting in cost savings for the company.

When a Company Puts Its Purchasing Requests Online and Invites