Railway Accounts Department Examinations

Showing posts with label Reverse auction. Show all posts
Showing posts with label Reverse auction. Show all posts

Thursday, August 27, 2020

eRA - Electronic Reverse Auction in Indian Railways

 

What is eRA  - Electronic Reverse Auction in Indian Railways

 

 

 

 

 

 

 

 

 

 

 

 

 

A

Auction

(Forward Auction)

a public sale in which goods are sold to the

highest bidder .

One seller, but many buyers.

 Example is Scrap Sales in IR through E-Auction

 

 

 

 

R

A

Reverse Auction

A public Procurement in which goods are

 brought from the  lowest bidder.

One buyer, but many sellers.

 

 

 

e

R

A

Electronic Reverse Auction

An online, real-time dynamic Reverse Auction.

 (in IR - through IREPS)

 

 

 

 

 

 

 

 

 

 

Comprehensive article on eRA - will be posted shortly