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| Reverse Auction
The core auction tool offered by the Exchange is the reverse auction,
allowing a buyer to interact with multiple sellers. In a reverse
auction, the price paid by the buyer is determined dynamically through
bids submitted by the sellers over a pre-determined period. The
supplier offering the most competitive terms wins the auction. Additional
features and functionality are being developed to ensure that all
customers of the Exchange have access to an industry-leading auction
service. |
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Benefits to
Retailers |
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Facilitate comparison of
multiple bids, potentially resulting in more favorable
pricing |
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Provide efficient negotiation
and information exchange process, resulting in faster
decisions and lower costs |
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Benefits to
Suppliers |
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Provide efficient negotiation
and information exchange process, resulting in faster
decisions and lower costs |
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Reduce customer acquisition
costs through direct access to the world's largest retailers |
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| Forward Auction
The forward auction tool allows a seller to interact with multiple
buyers. In a forward auction, the price charged by the seller is
determined dynamically through bids submitted by the buyers over
a pre-determined period. The buyer offering the most competitive
bid wins the auction. |
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Benefits to
Retailers |
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Provide efficient negotiation
and information exchange process, resulting in faster
decisions and lower costs |
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Obtain true market price
for items whose value is not easily determined |
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Benefits to
Suppliers |
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Provide efficient negotiation
and information exchange process, resulting in faster
decisions and lower costs |
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Create new market opportunities,
potentially increasing sales and reducing inventory |
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Sell excess inventory,
end-of-line goods and supply constrained goods |
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WorldWide Retail Exchange, LLC. All rights reserved.