Guidance Is Needed to Maximize Competition and Achieve Cost Savings.

UNITED States. Government Accountability Office; REVERSE auctions; GOVERNMENT agencies; ACQUISITION of property; GOVERNMENT regulation

The article presents a report by U.S. Government Accountability Office (GAO) regarding the increase in competition and achieving of cost savings. It states that several market issues such as what things are bought by reverse auctions and the trend in their use, method of conduction of reverse auctions by federal agencies, and the maximization extent benefits of reverse auctions. It mentions recommendations of GAO such as the Federal Acquisition Regulation (FAR) have to be amended.