GSA’s reverse auction platform is changing the way in which federal agencies buy and contractors compete through the Federal Supply Schedule program

GSA’s reverse auction platform is changing the way in which federal agencies buy and contractors compete through the Federal Supply Schedule program

This summer, the General Services Administration (GSA) launched a new online "eTool" that enables federal agencies to use a reverse auction process to procure basic commodities and services. The platform, ReverseAuctions.gsa.gov/, allows suppliers to bid competitively for government-contracting opportunities in real time, with the lowest bidder generally securing the work. While GSA has used third-party vendors, including Fed Bid Inc., to conduct such auctions in the past, this is the first large-scale reverse auction program run by the Government. This auction approach — which is essentially a lowest-price, technically-acceptable (LPTA) procurement with the pending low price visible to competitors during the course of the competition — has the potential to significantly impact the way that federal agencies purchase products and services through the Federal Supply Schedule (FSS) program. Click here to read the full alert.

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