Implementing the reverse auction process requires some of the following steps with one exception:
A) Define market specifications
B) Identify suppliers
C) Perform post-award review
D) Approve suppliers listing
E) Identify specific terms and conditions

Question

Quizplus · Accepted Answer

The reverse auction process primarily involves defining market specifications, identifying and approving suppliers, and setting specific terms and conditions. A post-award review, while important in procurement processes, is not a step in implementing the reverse auction process itself but rather a follow-up activity after the auction and contract awarding.

Implementing the Reverse Auction Process Requires Some of the Following