Reverse bidding, or a reverse auction is available in IFS cloud?
Reverse bidding, or a reverse auction, is a procurement process where suppliers compete to win a buyer's contract by offering progressively lower prices for a product or service. Instead of buyers bidding up the price, as in a traditional auction, sellers in a reverse auction bid prices down. This method drives down costs for the buyer, who then awards the contract to the supplier with the lowest qualified bid.