A framework for the development of a multi attributes reverse auction for B2B e-marketplace

Abstract

E-auction is a process where buyers and sellers are able to bid for products via online intermediaries or portals. In a B2B marketplace, buyers usually initiate requests for products or services via a Request for Quotation (RFQ). The potential sellers compete to offer quality products or services at the best price they can afford. Multi-attributes reverse auction which include non-price attributes has been identified as a promising auction mechanism for B2B e-marketplace. Results obtained from preliminary case studies conducted on local companies involved in the wood based industry revealed that there is a need for a multi attributes reverse auction for a B2B e-marketplace. These results, coupled with a review of literature and existing e-auction sites results in a framework that will serve as a methodology for the development of an e-auction portal tailored for the wood- based industry.