Whois & Analysis for publicpurchase.com

A reverse auction is a type of auction in which the roles of buyer and seller are reversed.

In an ordinary auction (also known as a 'forward auction'), buyers compete to obtain goods or services by offering increasingly higher prices.

In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.

Procurement is the act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process.

The process is used to ensure the buyer receives goods, services or works at the best possible price, when aspects such as quality, quantity, time, and location are compared.

Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion.

Purchasing refers to a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise.

Though there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.

Typically the word “purchasing” is not used interchangeably with the word “procurement”, since procurement typically includes expediting, supplier quality, and transportation and logistics (T&L) in addition to purchasing.

Bidding is an offer (often competitive) to set a price by an individual or business for a product or service or a demand that something be done.

Bidding is used to determine the cost or value of something.

The public sector is the part of the economy concerned with providing various governmental services.

The composition of the public sector varies by country, but in most countries the public sector includes such services as the military, police, infrastructure (public roads, bridges, tunnels, water supply, sewers, electrical grids, telecommunications, etc), public transit, public education, along with health care and those working for the government itself, such as elected officials.

The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service.