e-Auction is a process of buying and selling goods by offering them up for bid, taking bids, and then selling the item to the winning bidder.
This application is being increasingly used in public and private sectors as standard practice, both in prime contracts and in securing value in the supply chain market. Suppliers are also realizing the benefits of online bidding because of transparency and increased market awareness.
In a typical auction, the buyer set up auction for buy item. Multiple suppliers bid for the item and depending on the nature of the auction, and one or more of the lowest bidders sell the goods at a price determined at the conclusion of the bidding
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