What is eRA - Electronic Reverse Auction in Indian
Railways
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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 |
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R |
A |
Reverse Auction |
A
public Procurement in which goods are brought from the lowest bidder. One buyer, but many sellers. |
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e |
R |
A |
Electronic Reverse Auction |
An
online, real-time dynamic Reverse Auction. (in IR - through IREPS) |
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Comprehensive article
on eRA - will be posted shortly