The Battle Against The Global Financial Crisis: The Case For The E-Reverse Auction

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Executive Summary

With the advent of the current financial crisis, the economy has been flooded with uncertainty, leaving businesses with a realistic threat for their existence. The globalization process, with its many benefits and opportunities for lower costs and more efficient sourcing, has enabled the crisis to spread worldwide, infecting markets and businesses, turning growth into recession, increasing job loss and unemployment. Organizations are looking for ways to reduce costs, trying to achieve cost savings by any means possible. Fortunately, the globalization process has been accompanied by rapid technological development, providing solutions that aim to answer the growing need of the logistical functions that are now struggling to succeed in the intense global competition.

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