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Wamuziri, S and Abu-Shaaban, N (2005) Potential of reverse auctions in construction procurement. In: Khosrowshahi, F (Ed.), Proceedings 21st Annual ARCOM Conference, 7-9 September 2005, London, UK. Association of Researchers in Construction Management, Vol. 1, 611–9.
- Type: Conference Proceedings
- Keywords: bidding; procurement; reverse auctions; e-commerce
- ISBN/ISSN: 0 902896 93 8
- URL: http://www.arcom.ac.uk/-docs/proceedings/ar2005-0611-0619_Wamuziri_and_Abu-Shaaban.pdf
- Abstract:
On-line auctions are widely used in commerce and industry to facilitate sale of goods and services. In the construction sector, use of reverse auctions is however relatively new. Reverse auctions utilise secure Internet technology to enable contractors to participate in the tendering process. This involves contractors bidding on-line against each other and progressively lowering their prices in order to win the contract. Types of auctions and how they influence bidding strategies are firstly discussed in this paper. The use of online bidding in other sectors of business is discussed. This is followed by a description of the procedure for online bidding for construction projects. The relative attractions and disadvantages of reverse auctions in construction procurement are discussed. Guidelines on the proper context for using reverse auctions in construction procurement are provided. Recommendations for further research to provide improved understanding and limitations of using reverse auctions in construction procurement are given.