Reverse Auctions are a proven way to save millions of dollars in government procurement. With the Obama Administration seeking substantial savings on federal purchasing, competitive bidding – dubbed “eBay in reverse” – has emerged as a vital part of their strategy. The blog Wyld About Business has an update on the federal government’s efforts overall and highlight what is being done at the U.S. Customs and Border Protection Service (CBP), in combination with FedBid, their private sector online marketplace provider.

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