What is the process in which a buyer posts its interest in buying a certain quantity of items with specified purchasing requirements and suppliers then compete for this business?

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Quizplus · Accepted Answer

The process described is that of a reverse auction, in which a buyer posts their interest in purchasing a specific quantity of items with defined requirements, and suppliers compete for the business by bidding against each other with lower and lower prices. This allows the buyer to select the most cost-effective supplier for their needs.

What Is the Process in Which a Buyer Posts Its