Post by Logan on Mar 7, 2016 20:00:22 GMT -6
When the city wants to buy anything, from pencils to welding materials, it issues a request for bids and then buys from the company with the lowest first offer.
City officials call that a lost opportunity, and have moved toward a process of letting sellers compete until the lowest price is reached. Officials say it could save the city millions.
"They can see the prices and continue to lower the price they're willing to sell to us at until they're the last one standing," said Rebecca Rhynhart, the city's chief administrative officer.
The city last week issued a request for proposals from companies that would develop a tool for this new system, known as reverse auctioning. Officials hope for it to be in use by June 1.
Read more: www.philly.com/philly/news/local/20160308_City_looking_to_save_with_reverse_bidding.html
City officials call that a lost opportunity, and have moved toward a process of letting sellers compete until the lowest price is reached. Officials say it could save the city millions.
"They can see the prices and continue to lower the price they're willing to sell to us at until they're the last one standing," said Rebecca Rhynhart, the city's chief administrative officer.
The city last week issued a request for proposals from companies that would develop a tool for this new system, known as reverse auctioning. Officials hope for it to be in use by June 1.
Read more: www.philly.com/philly/news/local/20160308_City_looking_to_save_with_reverse_bidding.html